Farms.com Home   News

Deal Reached To Take Rocky Mountain Dealerships Private

Publicly-traded Rocky Mountain Dealerships Inc. has reached a deal to become a private company.
 
A numbered company (AcquireCo) controlled by Chairman Matthew Campbell and CEO Garrett Ganden has agreed to buy out the remaining shares that they currently don't own. The price per share is $7.
 
Rocky Mountain says the purchase price represents a 26.8% premium to the closing share price on October 30, 2020.
 
The arrangement values Rocky Mountain at $135 million on an equity basis and at $188 million on an enterprise basis, including debt (net of cash) and lease obligations, and excluding floor plan payables.
 
To go forward, the deal requires two-thirds support at a meeting to be held in December.
 
Rocky Mountain is one of the largest farm equipment dealers in Canada with 36 locations in Manitoba, Saskatchewan and Alberta.
Click here to see more...

Trending Video

How Can You Tell if There is Bermudagrass in Your Pasture?

Video: How Can You Tell if There is Bermudagrass in Your Pasture?

Alex Rocateli, OSU Extension forage specialist, has tips on how to identify bermudagrass in pastures.