Horizon Global Announces Termination of Brink Acquisition Agreement
Horizon Global Corporation Common Shares (HZN)
Last horizon global corporation common shares earnings: 3/16 06:30 am
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US:NYSE Investor Relations:
investors.horizonglobal.com
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Source: Business Wire
TROY, Mich.--(BUSINESS WIRE)-- Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, today announced that the Company and H2 Equity Partners have mutually agreed to terminate the Brink Group acquisition agreement, effective June 14, 2018. As part of the termination agreement, Horizon Global agreed to pay a break fee to the Brink Group in the amount of €4.75 million. The acquisition will be withdrawn from regulatory review in Germany and the U.K. “Both Horizon Global and the Brink Group are two strong organizations that are leaders in the towing and trailering industry in Europe,” commented Carl Bizon, Horizon Global Interim President and Chief Executive Officer. “While the decision to acquire Brink was based on a compelling opportunity for our Company, ultimately, we have mutually agreed that our best path forward is to remain
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