Accell Group agrees to $1.77 billion takeover bid by KKR-led consortium

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By Ian Walker

Accell Group NV said Monday that it has agreed on a 1.56 billion euro ($1.77 billion) takeover by a consortium led by Kohlberg Kravis Roberts & Co. LP.

Under the deal, accepting shareholders of the Netherlands-based bicycle company will get EUR58 for each share held, a 26% premium to the company’s closing price on Friday.

The consortium includes Teslin Alpine Acquisition BV, a subsidiary of Teslin Participaties Cooperatief UA.

Accell’s existing board of management, comprising Chief Executive Ton Anbeek and Chief Financial Officer Ruben Baldew, will continue to lead the group, the company said.

Write to Ian Walker at ian.walker@wsj.com


This article was originally published by Marketwatch.com. Read the original article here.

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