August 11, 1998 |
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.
June 23, 1998 |
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.