(RTTNews) - Blue Bird Corp. (BLBD) on Tuesday agreed to acquire Girardin Group's 50% stake in the Micro Bird joint venture for approximately $200 million, taking full ownership of the business.
The consideration includes about 30% in cash and 70% in Blue Bird stock.
The transaction is expected to close in the first half of calendar 2026.
Micro Bird was established as a 50/50 joint venture in 2009, designs and manufactures Type A school and commercial shuttle buses and operates facilities in Quebec and New York.
Following the closing, Blue Bird intends to appoint Micro Bird's Chairman, Steve Girardin to its Board of Directors.
In the pre-market trading, Blue Bird is 1.02% lesser at $57 on the Nasdaq.
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