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Dorel shares climb after company reveals plan to go private

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Shares in Dorel Industries Inc. were up nearly five per cent in afternoon trading Monday after the company announced a going-private deal with a group led by Cerberus Capital Management and the family that controls the consumer products company's multiple-voting shares.

The preliminary offer -- which values the maker of car seats, strollers, bicycles and home furniture at approximately $470 million -- is subject to further negotiation between Dorel's independent directors and the family that controls Dorel through multiple-voting shares.

A Dorel media representative said it had no further comment Monday but more details may be discussed during Dorel's third-quarter report on Friday. "Part of going private like this, and I've talked to a bunch of companies that have done it, is you don't have to worry about quarterly results, you don't have to worry about defending what you're doing for longer-term strategy," Moore said.

The company's shares have been rising since the class B subordinate shares hit an intraday low of $1.25 earlier this year.

 

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