Saskatchewan’s largest private company is about to get a lot bigger if Brandt Tractor’s proposed acquisition of Cervus Equipment Corp. goes through.
Cervus recently announced it made an agreement with Brandt, which will acquire all issued and outstanding Cervus shares for $302 million.
Brandt will pay $19.50 per share, which is a 37 percent premium to the 20-day volume-weighted average price of the shares.
Before the acquisition can be completed, third party approvals, including from John Deere and Peterbilt, are required, as are approvals from regulatory authorities.
Cervus has 64 equipment dealerships in Canada, Australia and New Zealand, which carry John Deere agricultural equipment, Peterbilt, Clark, Sellick, Doosan, JLG and Baumann equipment.
Brandt has more than 100 locations in Canada and the United States, and serves the construction, road building, forestry, agriculture, rail, mining, steel, and energy industries.