Superior Industries ups offer for remaining Uniwheels shares
May 19, 2017
Industrial Supplies and Parts | Bad Durkheim, Germany | Corporate Acquisition
Superior Industries (NYSE: SUP) has increased its $715 million offer by 5% for fellow aluminium wheels supplier Uniwheels (FRA: UWH). Superior already has the support of the Schmid family, Uniwheels' founders who previously agreed to sell their 61% stake for PLN226.5 (€53.61) per share—a 9% discount compared with the new offer price. Remaining shareholders have until 22 May to accept the improved bid.