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BUSINESS
September 30, 1998 | Leslie Earnest
GT Bicycles Inc. said Tuesday that its shareholders have approved the company's acquisition by the makers of Schwinn bicycles, a $79-million deal that creates one of the world's largest bicycle manufacturers. Santa Ana-based GT is being purchased by Schwinn Holdings Corp., a division of Questor Partners Fund LP. The transaction should close today. Schwinn is buying all 9.9 million shares of GT's stock for $8 a share. Questor has commitments to finance the acquisition.
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BUSINESS
September 30, 1998 | Leslie Earnest
GT Bicycles Inc. said Tuesday that its shareholders have approved the company's acquisition by the makers of Schwinn bicycles, a $79-million deal that creates one of the world's largest bicycle manufacturers. Santa Ana-based GT is being purchased by Schwinn Holdings Corp., a division of Questor Partners Fund LP. The transaction should close today. Schwinn is buying all 9.9 million shares of GT's stock for $8 a share. Questor has commitments to finance the acquisition.
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BUSINESS
October 3, 1998 | (Bloomberg News)
The makers of Schwinn bicycles said Friday they have completed their acquisition of Santa Ana-based GT Bicycles Inc. for about $170 million, creating one of the largest U.S. makers of bicycles sold through independent dealers. Schwinn Holdings Corp., a unit of Questor Partners Fund LP, is paying $8 a share, or about $80 million in cash, a 68% premium on GT's closing price of $4.75 on June 19, before the acquisition was announced.
BUSINESS
August 11, 1998 | Times Staff and Wire Reports
GT Bicycles Inc. said Monday that its proposed acquisition by the makers of Schwinn bicycles has cleared antitrust hurdles. The $78.6-million transaction, which would create one of the world's largest bicycle manufacturers, is expected to be completed later this quarter, pending shareholder approval and a review of proxy materials by the Securities and Exchange Commission. Santa Ana-based GT would by acquired by Schwinn Holdings Corp., a unit of Questor Partners Fund LP.
BUSINESS
June 23, 1998 | LESLIE EARNEST, SPECIAL TO THE TIMES
GT Bicycles Inc. of Santa Ana said Monday that it has agreed to be acquired by the makers of Schwinn bicycles for $78.6 million in a deal that will create one of the world's largest bicycle manufacturers. GT's purchase by Schwinn Holdings Corp., a unit of Questor Partners Fund LP, forms a company with $400 million in annual sales and marks the latest round of consolidation in the hotly competitive cycling industry.
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