Booming Share Price Prevents Dorel Going Private
| 25th February 2021 |
As we reported previously in the bottom section of an article here, Canadian based Dorel owner of major bike brands including Cannondale, GT, Mongoose and Schwinn was set to revert to private ownership.
However Dorel has now cancelled its proposed bid to take the company private following a backlash from a significant portion of the group’s shareholders.
With bike industry share prices rocketing and investor interest growing sharply, investors perceived the offer to fall short of a fair valuation of the business, which is diversified far beyond just the sale of cycling products.
A longer version of this article was first published in Cycling Industry News (UK)