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Winnebago Industries Incorporated

Winnebago RV maker rejects $321.5 million takeover bid

Winnebago RV maker rejects $321.5 million takeover bid

Winnebago Industries Inc., maker of the cult favorite recreational vehicles, reviewed and rejected an unsolicited $321.5 million takeover bid from a private equity firm Friday.

In a letter, North Street Capital offered $11 per share in cash for Winnebago – a 29% premium over the Iowa company’s Thursday close.

But Winnebago said in a statement that the letter didn’t have “sufficient information to deem the offer as credible” and that the proposal was conditional upon further due diligence and negotiation.

The...

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