Polaris Industries to Acquire WSI Industries
WSI INDUSTRIES (WSCI)
US:NASDAQ Investor Relations:
wsiindustries.com/investor-relations
Company Research
Source: GlobeNewswire
Minneapolis, MN, Sept. 06, 2018 (GLOBE NEWSWIRE) -- Polaris Industries Inc. (NYSE: PII) (“Polaris”) and WSI Industries, Inc. (Nasdaq: WSCI) (“WSI Industries”) today jointly announced the execution of a merger agreement by which Polaris will acquire all outstanding common stock of WSI Industries for $7.00 per share in cash, resulting in a WSI Industries enterprise value of approximately $23.9 million. The merger, which is expected to close in the fourth calendar quarter of 2018, is subject to customary conditions including WSI shareholder approval. WSI Industries reported net sales of $25.9 million for the first three quarters of its fiscal 2018 ending August 26, 2018, of which 78% was attributable to sales to Polaris. “The WSI board is committed to maximizing shareholder value and we believe this transaction will deliver excellent value to our shareholders,” said Michael Pudil, WSI Industries’ president and chief executive officer. “I am proud of our achievements at WSI Industrie
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