- Superior Industries ( NYSE: SUP ) jumped 17% after M2 Capital Partners offered to buy the auto parts maker for $160 million, or $5.85/share.
- The offer represents a 36% premium to Superior's ( SUP ) closing price on Thursday, according to a statement. M2 Capital plans to immediately commence a tender offer for 100% of outstanding shares of Superior. Completion of the tender offer is expected to be in Q1. The transaction will be be funded by cash.
- Superior Industries ( SUP ) reported Q3 results last Thursday.
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Super Industries surges 17% after $160M takeover offer from M2 Capital