In a statement issued after the stock market closed today, Coachmen Industries Inc. management accused Thor Industries Inc. Chairman Wade F.B. Thompson of trying to “stampede the (Coachmen) shareholders and Board of Directors into accepting Thor’s (takeover) proposal.”
On Monday, Thor revealed it is willing to pay $18 for each share of Coachmen stock in order to acquire the company. Thompson said he went public with his bid because Coachmen rejected it.
Today, Thompson announced he wants to turn the Coachmen shareholders’ vote on routine annual meeting matters into a referendum on his takeover effort.
Coachmen revealed late this afternoon that its board will meet in special session next Wednesday to consider Thor’s bid. The Coachmen board will advise shareholders of its decision after the meeting.
Until then, Coachmen advised its shareholders “to refrain from any action in response to Thor’s recent request until they have an opportunity to consider the board’s recommendation.”