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June 28, 2019

Yanmar seeks ASV takeover

Filed under: Uncategorized — EHN Team @ 8:08 am

Yanmar has agreed to buy the American manufacturer ASV Holdings Inc, which supplies rubber-tracked compact track loaders and skid steer loaders, for $70.7 (£55.8m).

The companies state that the combined businesses have virtually no overlap in their distribution networks.

The transaction is subject to approval by ASV stockholders and other customary closing conditions and is expected to close in the third quarter of 2019. Terex Corporation, which owns 34% of the outstanding shares of ASV, has announced its support of the deal.

Andrew Rooke, Chairman and CEO of ASV commented that “the merger will create a strong platform for growth and expansion, bringing together two leading brands with similar cultures and creating value. The ASV product is complementary to the Yanmar portfolio of compact equipment creating a comprehensive equipment solution for current and future customers.”

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