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ALAMO GROUP TERMINATES ITS NEGOTIATIONS TO ACQUIRE BANDIT INDUSTRIES
Dec. 17, 2013
Source: Alamo Group news release
Alamo Group Inc. today announced that negotiations relating to the proposed acquisition of Bandit Industries, Inc. have been terminated.
The proposed transaction with Bandit had previously been announced on November 19, 2013 based on the letter of intent entered between the parties and as a result of the public disclosure that the transaction had been approved under the Hart-Scott-Rodino antitrust review.
As announced at that time, the transaction was subject to completion of an acquisition agreement and certain other conditions and, as of now, the parties have been unable to reach an agreement on a basis for going forward.
About Alamo Group
Alamo Group is a leader in the design, manufacture, distribution and service of high quality equipment for right-of-way maintenance and agriculture. Our products include truck and tractor mounted mowing and other vegetation maintenance equipment, street sweepers, snow removal equipment, pothole patchers, excavators, vacuum trucks, agricultural implements and related after-market parts and services. The Company, founded in 1969, has approximately 2,500 employees and operates eighteen plants in North America and Europe. The corporate offices of Alamo Group Inc. are located in Seguin, Texas and the headquarters for the Company's European operations are located in Salford Priors, England.
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