Gamco buys shares of Gehl ahead of proposed merger

By Lisa Kerner

Charlotte, N.C., Sept. 22 - Gehl Co. investors led by Gamco Asset Management Inc. bought 603,896 shares of Gehl Co. between Aug. 4 and Sept. 18.

According to a schedule 13D filed with the Securities and Exchange Commission, the shares were priced from $14.98 to $29.72 each.

Gamco beneficially owns 756,896 shares or 6.24% of Gehl.

On Sept. 8, shareholder Manitou BF SA agreed to buy the company for $30 per share in an all-cash transaction valued at $450 million.

Manitou subsidiary Tenedor Corp.'s tender offer for the shares ends Oct. 20, it was previously reported.

Located in West Bend, Wis., Gehl manufactures compact equipment used in construction and agricultural markets.

Manitou manufactures and distributes material-handling equipment used in the construction, agriculture and industrial markets. The company is based in Ancenis, France.

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