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One Water Marine (Nasdaq: Onew) is in discussions to buy its larger competitor MarineMax (New York Stock Exchange: Herzo) in an all-cash transaction.
OneWater (ONEW) has made a $40 equity offer for MarineMax (HZO) and the combined company will be valued at $2.5 billion, including Debts, according to A Bloomberg report late Sunday, citing people familiar with the matter. It is possible that the talks will collapse and no agreement will be reached. The $40 price represents a 40% premium over MarineMax's (HZO) Closing price on Friday.
A deal between the boat dealers could be announced as soon as this month, after months of private talks between the two companies, according to the report. OneWater Marine (ONEW) has a market capitalization of $415 million, while MarineMax (HZO) has a market cap of $635 million.
Representatives of the companies could not immediately be reached for comment by Bloomberg.