ARB Says Associate's Acquisition of 4 Wheel Parts Expected for US Court Approval on Oct. 15; Shares Rise 3%

MT Newswires Live

Oct 10, 2024

ARB (ASX:ARB) said its ORW USA associate's asset purchase agreement to acquire 4 Wheel Parts from Hoonigan is expected to be approved by the US Bankruptcy Court at an Oct. 15 hearing, according to a Thursday filing with the Australian bourse.

ORW and Hoonigan expect to complete the deal within days if the court approves, with ARB already being approved by the court to acquire the Poison Spyder brand for $1 million, the filing stated.

Shares in ARB rose past 3% in recent Thursday trade.

Price (AUD): $44.93, Change: $+1.32, Percent Change: +3.03%

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