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OneWater Marine (NASDAQ:ONEW) is in discussions to purchase its larger rival MarineMax (NYSE:HZO) in an all-cash deal.
OneWater (ONEW) has made a $40 a share offer for MarineMax (HZO) and the combined company would be valued at $2.5 billion, including debt, according to a Bloomberg report late Sunday, which cited people familiar with the matter. It’s possible talks fall apart and no deal emerges. A $40 price tag represents a 40% premium to MarineMax’s (HZO) closing price on Friday.
A deal between the two boat dealers may be announced as soon as this month, following months of private talks between the two companies, according to the report. OneWater Marine (ONEW) has a market cap of $415 million, while MarineMax (HZO) is valued at $635 million.
Representatives for the companies couldn’t immediately be reached for comment by Bloomberg.
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