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.
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