Dorel calls off $370M take-private deal with Cerberus
February 17, 2021
Dorel Industries, a Canadian maker of bicycles and other recreational products, has terminated an agreement to be acquired by Cerberus Capital Management for C$470 million (about $370 million). Dorel cited a belief among shareholders that the company has more potential if it remains publicly traded. Cerberus had increased its offer to C$16 per share earlier this month after a pair of Dorel shareholders objected to the firm's original bid of C$14.50.