Gametime Closes On $13.3M VC Funding Tribune Media Bullish On MLB Ratings Morgan Stanley Offers Loans To NFL Draftees CBS Quarterly Profits Up, But Revenue Down Puma's Profits Fall 30% In Q1 Disney's Q2 Income Up Despite ESPN Costs Adidas' Net Profits Rise In Q1 Stats LLC Acquires U.K.-Based Prozone Aussie Social Media Company Buys Into BigTeams Callaway Profits Beat Q1 Expectations
Upcoming Conferences and Events
SCHWINN GOES OFF-ROAD WITH PURCHASE OF GT BICYCLES
Published June 24, 1998
CO-based Schwinn Holdings Corp. announced plans to acquire CA-based GT Bicycles in a deal valued at "about" $180M. Schwinn, a privately-owned company, said it will pay $8 a share for GT's 10 million shares of outstanding common stock, as well as assume $100M of GT's debt. On Monday, GT shares were up $2.375, closing at $7.125 per share on the NASDAQ. GT makes off-road mountain bikes and BMX bikes for young adults (DENVER POST, 6/23). Together, Schwinn and GT "will rival Trek as the largest U.S. bike maker to sell through independent dealers" (DENVER POST, 6/23).