Similar to political candidates seeking an audience with voters, the top executives of Thor Industries Inc. and Coachmen Industries Inc. are appealing to shareholders as the Coachmen shareholders meeting draws near.
Coachmen’s annual shareholders’ meeting is scheduled to begin at 10 a.m. Central Time Thursday in Elkhart, Ind.
Usually such gatherings concern only mundane matters, but this year Thor Chairman Wade F.B. Thompson is trying to turn the meeting into a referendum on his effort to acquire Coachmen.
Thompson believes the two companies are a good fit because Thor primarily builds towables while Coachmen gets most of its RV revenue from motorhome sales.
Thompson also believes his track record for achieving profitability is better than Coachmen’s.
Meanwhile, Coachmen Chairman Claire Skinner, in a letter to shareholders distributed Monday, said Thor’s $18-a-share offer for Coachmen is too low.
She said Coachmen’s effort to buy modular homebuilder Mod-U-Kraf, which should be finalized in June, shows Coachmen’s commitment to enhancing shareholder value over the long-term.