TORRANCE, Calif. — Edelbrock Corp. and the company’s chairman, president and CEO Vic Edelbrock, Jr., have announced a merger agreement providing for the company to go private, through the acquisition of all outstanding shares of common stock of Edelbrock Corp. not already owned by Edelbrock and his affiliates. Edelbrock will purchase shares in the company for $16.75 per share in cash.
Edelbrock and his affiliates currently own approximately 51.1 percent of the issued and outstanding common stock of Edelbrock Corp. Following the acquisition, Edelbrock and his affiliates expect to own all of the outstanding shares of Edelbrock common stock, which will no longer be publicly traded.
“We believe that in the current financial, business and industry environments, it is in the best interests of the company to be privately held,” said Edelbrock. “This transaction will also give the company greater flexibility to make investment and operating decisions based on long-term strategic goals without the concern that a public company must have for the public market’s short-term expectations.”
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