reports
Tender Offer for Arctic Cat Completed
MINNEAPOLIS--(BUSINESS WIRE)-- Arctic Cat Inc. (NASDAQ: ACAT) today announced that Textron Inc. (NYSE: TXT) has successfully completed the tender offer by Aces Acquisition Corp., an indirect wholly owned subsidiary of Textron, to acquire all outstanding shares of Arctic Cat at a price of $18.50 per share in cash, without interest and subject to any required withholding taxes. Aces Acquisition Corp. has accepted for payment all outstanding shares of Arctic Cat validly tendered and not properly withdrawn as of the expiration ti...
Court Rules in Favor of Arctic Cat in Patent Litigation Brought by Bom...
MINNEAPOLIS--(BUSINESS WIRE)-- Arctic Cat Inc. (NASDAQ:ACAT) today announced that the Federal Court in Canada has issued its trial judgment in favor of Arctic Cat in the longstanding patent infringement action brought against it by Bombardier Recreational Products Inc. At issue in the case were approximately 44,000 Arctic Cat snowmobiles covering model years 2007 through 2015. BRP had alleged that Arctic Cat's snowmobiles infringed 56 patent claims contained in four Canadian Patents. In its decision, however, the Federal Court found a...
INVESTOR ALERT: Brower Piven Commences An Investigation Into The Propo...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Arctic Cat Inc. (Nasdaq: ACAT) (“Arctic Cat” or the “Company”) relating to the proposed buyout of Arctic Cat by Textron Inc. Under the terms of the agreement, Arctic Cat shareholders are anticipated to receive $18.50 in cash for each share of Arctic Cat common stock held. The firm’...
ARCTIC CAT INC. SHAREHOLDER ALERT: Former SEC Attorney Willie Briscoe ...
DALLAS--(BUSINESS WIRE)-- Former United States Securities and Exchange Commission attorney Willie Briscoe is investigating potential claims against the Board of Directors of Arctic Cat Inc. (“Arctic Cat”) (NasdaqGS: ACAT) concerning the acquisition by Textron Inc. Under the terms of the agreement, valued at approximately $247 million, Arctic Cat shareholders will only receive $18.50 per Arctic Cat share owned. The consideration is significantly lower than at least one analyst’s estimated value of $20.00. If you are an affecte...
INVESTOR ALERT: Levi & Korsinsky, LLP Announces an Investigation Into ...
NEW YORK--(BUSINESS WIRE)-- The following statement is being issued by Levi & Korsinsky, LLP: To: All Persons or Entities who purchased Arctic Cat Inc. (NASDAQ:ACAT) stock prior to January 25, 2017. You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the sale of Arctic Cat to Textron Inc. (NYSE: TXT) for $18.50 per share. To learn more about the action and your rights, go to: http://zlk.9nl.com/arcticcat-acat or contact Joseph E. Levi, Esq. e...
SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Pr...
STEVENSON, Md.--(BUSINESS WIRE)-- The securities litigation law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Arctic Cat Inc. (Nasdaq: ACAT) (“Arctic Cat” or the “Company”) relating to the proposed buyout of Arctic Cat by Textron Inc. Under the terms of the agreement, Arctic Cat shareholders are anticipated to receive $18.50 in cash for each share of Arctic Cat common stock held. The firm’...
- Jaime Katz
Arctic Cat seals its fate with $18.50 offer from Textron.
Narrow-moat Arctic Cat announced on Jan. 25 that it has reached a definitive agreement with no-moat Textron to be acquired in a cash transaction valued at approximately $247 million, plus the assumption of debt. Textron makes a wide array of products including business jets, piston and turboprop aircraft, civil and military helicopters, unmanned aircraft, military munitions, motorized aircraft tugs, recreational and golf vehicles, electrical transmission products, simulation and training solutio...
ARCTIC CAT INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces In...
WILMINGTON, Del.--(BUSINESS WIRE)-- Rigrodsky & Long, P.A.: Do you own shares of Arctic Cat Inc. (NASDAQ GS: ACAT)? Did you purchase any of your shares prior to January 25, 2017? Do you think the proposed buyout price is too low? Do you want to discuss your rights? Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors of Arctic Cat Inc. (“Arctic Cat” or the “Company”) (NASDAQ GS: ACAT) ...
- Jaime Katz
Arctic Cat Seals Its Fate With $18.50 Tender Offer From Textron
Narrow-moat Arctic Cat announced on Jan. 25 that it has reached a definitive agreement with no-moat Textron to be acquired in a cash transaction valued at approximately $247 million, plus the assumption of debt. Textron makes a wide array of products including business jets, piston and turboprop aircraft, civil and military helicopters, unmanned aircraft, military munitions, motorized aircraft tugs, recreational and golf vehicles, electrical transmission products, simulation and training solutio...
Arctic Cat Announces Agreement to Be Acquired by Textron in $247 Milli...
MINNEAPOLIS--(BUSINESS WIRE)-- Arctic Cat Inc. (NASDAQ: ACAT) today announced that it has signed a definitive merger agreement under which Textron Inc. (NYSE: TXT) will acquire Arctic Cat in a cash transaction valued at approximately $247 million, plus the assumption of existing debt. Under the terms of the agreement, which was unanimously approved by the Arctic Cat board of directors, Textron, through a wholly owned subsidiary, will commence a tender offer to purchase all outstanding shares of Arctic Cat at $18.50 per share in cash, ...
- Jaime Katz
Arctic Cat turnaround still at bay as competitive environment persists...
We expect narrow-moat Arctic Cat could be a beneficiary of market share gains over the next year, much to the chagrin of wide-moat Polaris, which has suffered from a series of recalls and setbacks in 2016. However, those share gains have yet to come to fruition as Arctic Cat continues to struggle to move units through the dealer base and stimulate sales growth in a meaningful way. Over the last 18 months, the firm has plodded slowly through right sizing its retail inventory and rebuilding its br...
- Jaime Katz
Arctic Cat Turnaround Still at Bay as Competitive Environment Persists...
We expect narrow-moat Arctic Cat could be a beneficiary of market share gains over the next year, much to the chagrin of wide-moat Polaris, which has suffered from a series of recalls and setbacks in 2016. However, those share gains have yet to come to fruition as Arctic Cat continues to struggle to move units through the dealer base and stimulate sales growth in a meaningful way. Over the last 18 months, the firm has plodded slowly through right sizing its retail inventory and rebuilding its br...
Arctic Cat Reports Fiscal 2017 Second Quarter Results
MINNEAPOLIS--(BUSINESS WIRE)-- Arctic Cat Inc. (NASDAQ:ACAT) today reported a net loss of $12.8 million, or $0.98 per share, on net sales of $164.6 million for the fiscal 2017 second quarter ended September 30, 2016. Arctic Cat® recorded a special item totaling $1.4 million after tax, or $0.10 per share, for a product liability settlement in the fiscal 2017 second quarter. In the prior-year quarter, Arctic Cat reported net earnings of $11.2 million, or $0.85 per diluted share, on net sales of $211.2 million. Christopher Metz,...
Arctic Cat Launches 2017 Line of SPEED Off-Road Accessories
MINNEAPOLIS--(BUSINESS WIRE)-- Arctic Cat Inc. (NASDAQ: ACAT) today launched its 2017 line of SPEED™ High Performance Accessories for side-by-sides at the SEMA show in Las Vegas. Consisting of 33 race-inspired items designed in partnership with off-road racing legend Robby Gordon and accessory innovator Todd Romano, the SPEED lineup delivers PRO-level performance and customization options for Arctic Cat Wildcat™ enthusiasts. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/2016110...
Arctic Cat Renews Partnership with National FFA Organization
MINNEAPOLIS--(BUSINESS WIRE)-- Arctic Cat Inc. (NASDAQ: ACAT) today announced its renewal partnership with the National FFA Organization (FFA), the youth leadership organization dedicated to making a positive difference in the lives of young people by developing their potential for premier leadership, personal growth and career success through agriculture education. Established last year, Arctic Cat and its participating dealers will continue to support local FFA chapters with grant and awareness programs to assist with youth scholars...
Arctic Cat to Webcast Fiscal 2017 Second Quarter Conference Call
MINNEAPOLIS--(BUSINESS WIRE)-- Arctic Cat Inc. (NASDAQ:ACAT) announced today that it will webcast its fiscal 2017 second quarter conference call on Wednesday, November 9, 2016, at 10 a.m. CT (11 a.m. ET). The company will release results before the stock market opens that day for its second quarter ended September 30, 2016. To listen to the conference call by phone, dial 800-768-6570 in the U.S. and Canada, or 785-830-1942 internationally. The conference ID number is 3585182. A telephone replay will be available until Wednesd...
Arctic Cat Introduces Second Wave of 2017 ATV and ROV Models
MINNEAPOLIS--(BUSINESS WIRE)-- Arctic Cat Inc. (NASDAQ:ACAT) today unveiled its second wave of new 2017 model year ATVs and side-by-side recreational off-road vehicles (ROVs), including new Wildcat™ X and Wildcat™ 4X models that feature an all-new RG™ PRO rear suspension, and a value-priced Alterra™ 300 ATV. This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160916005832/en/ Arctic Cat's new 2017 model year Wildcat X LTD (Photo: Arctic Cat). Commented Christopher Metz, Ar...
- Jaime Katz
The turnaround remains elusive at Arctic Cat, despite improved invento...
We hold firm that narrow-moat Arctic Cat continues to take the right steps to restore faith in its brand by innovating new products and getting back into the good graces of its dealer network. However, over the last few quarters we’ve contended that this is increasingly difficult to do while the industry grows secularly slower than over the last five years. We expect the turnaround of Arctic Cat to remain a slow race to the finish line, but one that will be completed over time, ultimately rewa...
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