RACINE, Wis. – Helen Johnson-Leipold (chairman and CEO, Johnson Outdoors) and Samuel C. Johnson (majority shareholder and director) are extending, for an additional 60 days, their Feb. 20 non-binding proposal to acquire the outstanding public shares of the company for a cash price of $18.00 per share, Johnson Outdoors Inc. said in a statement yesterday.
The special committee of independent directors established to evaluate the proposal on behalf of the company was notified of the extension in a letter that said all other terms of the proposal remain in effect. The committee is in the process of evaluating the proposal, and has retained independent financial and legal advisors to assist in that process, Johnson reported.
The proposal pertains to all shares of the company not already owned by Johnson-Leipold and Samuel Johnson, or any member of their family or entities controlled by them. The proposal was filed on a Current Report on Form 8-K on Feb. 20, according to the company.
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