SCHWINN GOES OFF-ROAD WITH PURCHASE OF GT BICYCLES
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).