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M2 Capital updates offer to acquire Superior Industries for $5.85 per share
The Fly

M2 Capital updates offer to acquire Superior Industries for $5.85 per share

M2 Capital provides an update on its tender. M2 Capital submitted an offer letter to Superior, earlier this month. Once Superior answers M2 Capital’s Letter – M2 Capital will file a Schedule TO with the U.S. Securities Exchange Commission. The offer is subject to customary and other terms and conditions. The letter read, "This letter is an offer (the "Offer") from M2 CAPITAL PARTNERS (UK) LIMITED (the "M2 Capital" or "M2C") to acquire 100% of the outstanding shares of SUPERIOR INDUSTRIES INTERNATIONAL, INC. ("Superior" or the "Company") (NYSE:SUP). The Offer is for US$5,85 per Superior share. M2 Capital is an ANGLO-CANADIAN private equity/investment firm focused on value creation. M2 Capital is focused on four types of efficiencies: (1) Managerial – we augment the management team, as necessary; (2) Operational – we bring in top consultants to optimize assets; (3) Technical- we invest in the newest / best-in-class technologies; and, (4) Capital – we optimize the capital base to best fit the company’s needs. M2 Capital’s Offer includes: (1) a guarantee to maintain all employees for a period of 2 ("two") years – from the date of acquisition of Superior, and, (2) a 6,5% (a "six and a half percent") increase in salaries for all employees – from the date of acquisition of Superior. The aggregate equity purchase price, assuming all outstanding shares are tendered, is anticipated to be close to US$160 million. The transaction will be FUNDED by CASH. The Offer is subject to customary and other terms and conditions. M2 Capital will shortly file, with the US Securities Exchange Commission ("SEC"), a Schedule TO.

Published first on TheFly

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