MarineMax surges after report Safe Harbor nearing acquisition
HZO•MarineMax surges on acquisition report
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Shares of recreational boat retailer MarineMax HZO.N jump 45.6% to $51.95 premarket
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Blackstone-owned BX.N Safe Harbor Marinas is nearing a deal to acquire the yacht retailer for $1.5 bln, according to a Reuters report
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The report, citing sources, says Safe Harbor is set to pay around $53/share in cash, a ~49% premium to HZO's Fri closing price of $35.68
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MarineMax did not immediately respond to a request for comment and Blackstone declined comment
Potential deal and recent pressure on the company
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Safe Harbor will own and operate all of MarineMax's business segments, some of the sources say
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A deal would cap months of pressure on the co from activist investor Donerail, which had been publicly urging MarineMax to sell itself since Oct
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As of last close, stocks up 47.3% YTD
