Portland, Oregon-based Cascade Corporation, manufacturer Cascade forklift attachments, is believed to have sent offer documents to its shareholders detailing a proposed leveraged buyout by the board of directors.
A deflated share price has sparked interest in takeovers. Cascade president and CEO Robert Warren announced in March that he and a management group were exploring the possibility of Cascade going private through a management-led buyout, but industry rumours suggest hostile takeovers from international companies.
The closing date for shareholder responses is believed to be early September ... Meanwhile, Sydney-based Brambles Equipment will soon close a deal to sell its forklift division. The division is understood to be tendered by Deutsche Bank. NACCO Industries and GEC Finance are believed to be linked to the sale.
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