The proposed acquisition of Goshen-based Supreme Industries Inc. (NYSEMKT: STS) by Wabash National Corp. (NYSE: WNC) in Lafayette is progressing. Wabash National subsidiary Redhawk Acquisition Corp. has launched its $21 per share tender offer for all outstanding shares of Supreme stock. The Supreme Industries’ board of directors has agreed to terms of the offer and merger and have advised shareholders to accept it.
The deal has an equity value of $364 million and would bring together one of the world’s most prolific trailer manufacturers, Wabash National, and the country’s second-largest truck body producer, Supreme Industries. The tender offer is scheduled to end September 27th and the acquisition is expected to close by the end of the year.
Earlier this month, Wabash National says the acquisition decision is driven by heavily-increased consumer demand for home delivery services and the integration of Supreme will bolster production of "last-mile" vehicles.