The price of Monaco stock slipped 42 cents, or almost 2%, to close at $25.79 a share on Monday (June 25), the first trading session after Monaco announced plans to acquire high-line Class A motorhome builder SMC Corp.

Monaco is offering $3.70 in cash for each share of SMC stock, and SMC stock gained 65 cents, or almost 22%, on Monday to close at $3.65 a share. (For a complete RV company stock update, click on RV Stocks on RVBUSINESS.COM.)

Technically, the owners of 51% of SMC’s stock need to decide whether to sell to Monaco, but the acquisition is a done-deal because two SMC principals, Matt Perlot and Curtis Lawler, own 70% of SMC’s shares, and they have agreed to sell to Monaco.

Monaco, based in Coburg, Ore., anticipates completing the acquisition of SMC, headquartered in Bend, Ore., in about 30 days, according to Mike Duncan, Monaco’s director of investor relations.

Meanwhile, Monaco will “keep our options open” regarding the future of SMC’s Harney Coach brand.

Last month, SMC revealed that it closed its Harney Coach production plant in Burns, Ore., but Duncan said the plant in Burns is to be included in the acquisition.

Monaco and SMC both have production plants in the Eugene, Ore., metro area, SMC’s in Harrisburg and Monaco’s in Coburg. SMC’s Safari Coach assembly operation will be shifted from Harrisburg to Coburg while SMC’s Magnum Manufacturing Inc. diesel engine Class A motorhome chassis assembly and service operation will remain in Harrisburg “for now,” Duncan said.

(Monaco’s Roadmaster diesel chassis assembly operation is in Elkhart, Ind.)

As far as other personnel moves involving SMC employees, Duncan said, “We’ll try to keep the overall workforce impact minimal, but no real decisions have been made yet.”

Monaco will pay $36 million for SMC, including $21 million in cash and Monaco will refinance $15 million worth of SMC debt.