ArcticCrusher Posted January 25, 2017 Share Posted January 25, 2017 To Textron for 247 million. http%3A//www.startribune.com/textron-is-buying-vehicle-maker-arctic-cat-in-247m-deal/411739136/ Link to comment Share on other sites More sharing options...
SuperG Posted January 25, 2017 Share Posted January 25, 2017 1 hour ago, ArcticCrusher said: To Textron for 247 million. http%3A//www.startribune.com/textron-is-buying-vehicle-maker-arctic-cat-in-247m-deal/411739136/ WOW, that came way out in left field! I wonder what will come of yamaha's deal with arctic cat, will they still have the agreement with textron or ?? Link to comment Share on other sites More sharing options...
catinental couch Posted January 25, 2017 Share Posted January 25, 2017 Question for all us old guys. What snowmobile manufacturer did Textron own back in the early 70's. Was it Sno-Jet ? Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 25, 2017 Author Share Posted January 25, 2017 Thought they used to own Polaris. Link to comment Share on other sites More sharing options...
catinental couch Posted January 25, 2017 Share Posted January 25, 2017 Could have been. Is there somebody on here who knows for sure? Link to comment Share on other sites More sharing options...
ArcticCrusher Posted January 25, 2017 Author Share Posted January 25, 2017 Textron bought Polaris in 1968 and sold it later. Link to comment Share on other sites More sharing options...
FrostyTheSnowman Posted January 25, 2017 Share Posted January 25, 2017 Wow is right. Best bet would be that the deal Yamaha stays in place as part of the sales agreement. Link to comment Share on other sites More sharing options...
Canuck Posted January 25, 2017 Share Posted January 25, 2017 Thanks for the news. Should've bought stock LOL Link to comment Share on other sites More sharing options...
Blake G Posted January 25, 2017 Share Posted January 25, 2017 http://www.snowmobile.com/blog/2017/01/arctic-cat-to-be-acquired-by-textron-for-247-million.html Arctic Cat to Be Acquired by Textron for $247 Million Story by Press Release Jan. 25, 2017 (2 hours ago) Share(131) Comments(0) Cat to become part of Textron’s Specialized Vehicles business Arctic Cat Inc. 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, representing a 40.7 percent premium to the closing price of Arctic Cat’s common stock on January 20, 2017. Arctic Cat anticipates that tender offer materials will be provided to shareholders no later than February 7, 2017. The completion of the acquisition is subject to customary conditions and regulatory approvals. “Arctic Cat’s board believes that Textron’s offer delivers compelling and immediate value to our shareholders,” said Christopher Metz, Arctic Cat’s president and chief executive officer. “This transaction presents increased opportunities for the business to leverage our combined scale, accelerate growth and enhance product innovation in ways that will benefit our customers, dealers and employees.” Textron is a multi-industry company with over $13 billion in annual revenues and approximately 35,000 employees. Arctic Cat will become part of Textron’s Specialized Vehicles business, maintaining its iconic Arctic Cat brand, as well as its current manufacturing, distribution and operational facilities, with a focus on growing the business. Arctic Cat and Textron Specialized Vehicles have complementary product portfolios of recreational, utility and specialized vehicles. The combined businesses will be well positioned to be a powersports industry leader with a wider product line-up, and allow for more aggressive investment in product development, dealer networks, marketing and customer service. Metz added: “We are proud of the progress our team has made to lay the foundation for Textron to continue taking this company forward. Textron plans to build on Arctic Cat’s strong brand and history of innovation. We expect many Arctic Cat employees to benefit from expanded career opportunities as part of a larger, more diversified company. On behalf of the Arctic Cat board and management team, we thank our dedicated employees for their hard work, commitment and pride in making Arctic Cat an enduring competitor and beloved brand in the powersports market. We are excited about Arctic Cat’s future.” About Textron Specialized Vehicles Inc. Textron Specialized Vehicles Inc. is a leading global manufacturer of golf cars, utility and personal transportation vehicles, professional turf-care equipment, and ground support equipment. Textron Specialized Vehicles markets products under the E-Z-GO, Cushman, Textron Off Road, Jacobsen, Dixie Chopper, Ransomes, TUG, Douglas, Premier and Safeaero brands. Its vehicles are found in environments ranging from golf courses to factories, airports to planned communities, and theme parks to hunting preserves. About Textron Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Textron Off Road, Textron Systems, and TRU Simulation + Training. For more information visit: www.textron.com. Link to comment Share on other sites More sharing options...
Blake G Posted January 25, 2017 Share Posted January 25, 2017 I remember Textron owning Polaris when I was a teenager, and rode a new 1972 Polaris Colt 175. Link to comment Share on other sites More sharing options...
sledjunk Posted January 25, 2017 Share Posted January 25, 2017 2 hours ago, ArcticCrusher said: Thought they used to own Polaris. I thought so, too. Link to comment Share on other sites More sharing options...
revrnd Posted January 25, 2017 Share Posted January 25, 2017 Was the division not called Polaris Textron on their sales literature back in those years? Link to comment Share on other sites More sharing options...
dweese Posted January 25, 2017 Share Posted January 25, 2017 I think that's a better buy then the rumored talk about Harley Davidson buying them last fall. Textron, has thier fingers in to a lot of things. Link to comment Share on other sites More sharing options...
Techdenis007 Posted January 25, 2017 Share Posted January 25, 2017 2 hours ago, ArcticCrusher said: Textron bought Polaris in 1968 and sold it later. 1 hour ago, Blake G said: I remember Textron owning Polaris when I was a teenager, and rode a new 1972 Polaris Colt 175. Correct, and correct. 1968 was a great year ... I'm a product of that time lol ! All our old Poo's had the Textron emblem on the tunnel, I remember doodling and copying the lettering as a kid. For Yamaha's sake, I hope the transition doesn't remove the Yammie connection, I think they have a better product in Cat chassis. 200 pounds lighter, at the very least ..... Link to comment Share on other sites More sharing options...
sledjunk Posted January 25, 2017 Share Posted January 25, 2017 Too bad Textron does't still own Poo. We could have PolCats on the trails, or Cat Poo Link to comment Share on other sites More sharing options...
Viperules700 Posted January 25, 2017 Share Posted January 25, 2017 Which year did Textron sell polaris? Link to comment Share on other sites More sharing options...
iangj Posted January 25, 2017 Share Posted January 25, 2017 Great read on Polaris history; http://www.fundinguniverse.com/company-histories/polaris-industries-inc-history/ Link to comment Share on other sites More sharing options...
iangj Posted January 25, 2017 Share Posted January 25, 2017 1 hour ago, Viperules700 said: Which year did Textron sell polaris? 1981 Polaris management bought the company from Textron Link to comment Share on other sites More sharing options...
02Sled Posted January 25, 2017 Share Posted January 25, 2017 2 hours ago, sledjunk said: Too bad Textron does't still own Poo. We could have PolCats on the trails, or Cat Poo Catapooaha has a nice ring to it. Link to comment Share on other sites More sharing options...
Nunz Posted January 25, 2017 Share Posted January 25, 2017 25 minutes ago, 02Sled said: Catapooaha has a nice ring to it. I think I almost puked. Link to comment Share on other sites More sharing options...
ontariof7 Posted January 25, 2017 Share Posted January 25, 2017 57 minutes ago, Nunz said: I think I almost puked. Is your avatar going to change once or twice every year? Link to comment Share on other sites More sharing options...
Nunz Posted January 25, 2017 Share Posted January 25, 2017 53 minutes ago, ontariof7 said: Is your avatar going to change once or twice every year? Yup, will likely be changing again..lol Link to comment Share on other sites More sharing options...
Baylaker Posted January 25, 2017 Share Posted January 25, 2017 Hopefully this gives Yamaha the push they need to get back to building their own genuine product. Dont get me wrong, I love my viper but I'd be a lot happier with an all Yamaha product as good as the viper Link to comment Share on other sites More sharing options...
sledjunk Posted January 25, 2017 Share Posted January 25, 2017 31 minutes ago, Baylaker said: Hopefully this gives Yamaha the push they need to get back to building their own genuine product. Dont get me wrong, I love my viper but I'd be a lot happier with an all Yamaha product as good as the viper From your lips to God's ears! I won't buy a blue cat. Link to comment Share on other sites More sharing options...
catinental couch Posted January 26, 2017 Share Posted January 26, 2017 It is only paint and clutches SJ.(and chassis and suspension and cowling.................) Link to comment Share on other sites More sharing options...
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