Cybex International should go private early next year

Cybex to go private
Cybex International should go private early next year as the U.S. fitness equipment maker’s board authorized a deal in which all its public shares are to be acquired at a price of $2.55 per share in cash. About 50.5 percent of Cybex’ shares are currently listed on Nasdaq, while the remainder is owned by UM Holdings; Cybex’ chairman and chief executive, John Aglialoro; and Joan Carter, a director of the company. The proposed deal calls for these three shareholders to purchase all of Cybex’ public shares, which would then be delisted. The price of $2.55 per share is 89 percent above Tuesday’s closing price. The deal is subject to approval by shareholders, at a special meeting that is expected to be held in the first quarter of next year.

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