Competitor eyes Raymarine takeover

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Raymarine confirmed it has received two further takeover approaches, including one from a direct competitor, which it says was the highest of the approaches.

Last month, the company also announced it had been approached by a third party interested in buying the company.

Raymarine officials said in a statement it believes the proposal from its unnamed direct competitor “is highly likely to be subject to an in-depth review by the competition authorities and that anti-trust approval is unlikely to be secured.”

Also, the company said, a protracted anti-trust approval process could be highly damaging to the company.

“The board therefore considers that the other two proposals have significantly greater likelihood of delivering value for shareholders and is continuing to investigate these proposals,” Raymarine said in a statement. “However, there is no certainty that an offer will be made, nor as to the terms on which any offer might be made.”

 

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Comments

5 comments on “Competitor eyes Raymarine takeover

  1. Mike Saylor

    It’s too bad that Raymarine finds itself in such a situation. They’ve always produced a quality product with many innovative features. I hope that the net result will be a continuation of the products. Competition is good for the industry and especially for the recreational boating community who are the ultimate benefactors.

  2. RJM

    I agree with you Mike.  It is inetresting to note that Garmin got all their R&D money frpm the US Gov’t where Raymarine paid for it themselves.  As a result, Raymarine has an excellent product and amassed a significant debt load…but they earned it on their own back.
    Good Luck Raymarine.  I, for one, am pulling for you.

  3. IAN STUART

    I BELIEVE THAT GARMIN HAS LOST A GREAT OPPERTUNITY NOT BUYING THIS COMPANY AS THE TWO COMPANIES JOINED TOGETHER WOULD MAKE FOR A GREAT COMPANY
    AND I AM AMAZED THAT THE BRITISH GOVERMENT OR BANKS DONT SUPPORT THIS ICONIC BRITISH BRAND BETTER THAN WHAT THEY HAVE BEEN DOING

  4. BoatDude

    RayMarine was born from goverment money. Raytheon got MANY sweet deals for the governent, which inturn gave them a leg up in the recreational market.
    I sure hope they don’t go the way of the dodo bird.

  5. Stu

    Hey guys. If you truly think that Raymarine needs support you can always do it yourself! :-p
    Maybe we the people can support them…buy some shares maybe?
    What do you think?

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