Accell Rejects Pon Holding Offer to Merge
Saying that the offer did not adequately reflect the value it expects to create on its own, Accell Group terminated talks with Pon Holdings to create what would have been the world’s largest bicycle company. Even the slightly sweetened offer of €33.72 per share including the €0.72 dividend, up €1 per share from the initial final offer, did not sway Accell. The final offer would have valued Accell at €872 million ($950.6 mm). Pon said it was surprised by the rejection, noting that it had ... Log in to view full article.