Edelbrock Considers Going Private - aftermarketNews

Edelbrock Considers Going Private

Edebrock Corp., the California-based maker of performance replacement parts, is considering going private. Vic Edelbrock, Jr., chairman, president and CEO of Edelbrock Corp., has proposed to acquire all outstanding shares of Edelbrock common stock, not already owned by Edelbrock or his affiliates. Edelbrock and his affiliates currently own approximately 51.2 percent of the company's stock.

TORRANCE, CA — Edebrock Corp., the California-based maker of performance replacement parts, is considering going private.

Vic Edelbrock, Jr., chairman, president and CEO of Edelbrock Corp., has proposed to acquire all outstanding shares of Edelbrock common stock, not already owned by Edelbrock or his affiliates. Edelbrock and his affiliates currently own approximately 51.2 percent of the company’s stock.

The proposal includes an offer of $14.80 per share in cash. The board of directors of Edelbrock Corp. has formed a special committee of independent directors to review the proposal. The committee has also retained independent legal counsel and expects to retain an independent financial advisor to assist in evaluating the proposed transaction. A time frame for the process has yet to be determined.

_______________________________________

Click here to view the rest of today’s headlines.

You May Also Like

Study: Indian Auto Aftermarket Expected to Reach $14B by 2028

The report by the Automotive Component Manufacturers Association and Ernst & Young shows an over $35 billion export opportunity for India.

India-Auto-aftermarket

The automotive aftermarket in India is anticipated to reach approximately $14 billion by 2028, according to a Global Automotive Aftermarket Research Report by the Automotive Component Manufacturers Association (ACMA) in collaboration with Ernst & Young (EY). The study, covering 39 countries across six continents, indicates that the global aftermarket represents an export opportunity of over $35 billion for India.

Valvoline Global Launches Mechanics Month Campaign

The 5th-annual campaign is designed to support and celebrate the value of mechanics around the world.

Valvoline Global Operations Launches Mechanics Month Campaign
WIN Announces Speakers & Programs for 2024 Conference

The conference will feature an array of speakers as well as sessions on repair planning, financial literacy and fostering a welcoming culture in the workplace.

WIN-Conference-2024-2
Icahn Enterprises Announces Management & Financial Update

Andrew Teno has been appointed as CEO of Icahn Enterprises, and David Willetts will serve as CEO of Pep Boys.

Carl-Icahn
Chrysler Unveils Chrysler Halcyon Autonomous EV Concept

The automaker will launch its first battery-electric vehicle in 2025 and will feature an all-electric portfolio in 2028.

Chrysler Unveils Chrysler Halcyon Autonomous EV Concept

Other Posts

The Packaging Pickle & Sustainability

While Valvoline Global Operations is working on the molecular make-up of its products, one area of improvement for the company is packaging.

Valvoline-packaging
Philips Introduces New Xperion 3000 LED Work Light Line

The new line includes 10 work lights, nine of which are powered by rechargeable lithium batteries. 

Philips Introduces New Xperion 3000 LED Work Light Line
Automechanika, Frost & Sullivan Form New Partnership

The strategic alliance will deliver a continuous flow of valuable content at Automechanika’s worldwide trade fairs.

Automechanika, Frost & Sullivan Form New Partnership
.dott Releases DEI Maturity Report for Automotive Aftermarket

The report measures DEI Maturity across the top 100 companies in the automotive aftermarket and emphasizes DEI efforts.

dott-2023-DEI-report-auto-aftermarket