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Peloton Acquires Health Tools Maker Precor For $ 420 Million • MV TELEGRAPH

Peloton announced Monday that it plans to acquire exercise equipment maker Precor for $ 420 million to expedite production of its bikes and treadmills and ....

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Why Peloton Is Raising $600 Million | The Motley Fool

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Following its fiscal 2021 second quarter earnings release last week,
Peloton (NASDAQ:PTON) is looking to raise $600 million in fresh capital through a private offering of convertible notes that will mature in 2026. Shares fell modestly on the news, likely due to the fact that institutional investors who buy convertible bonds typically simultaneously short the stock as part of a convertible arbitrage strategy. ....

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Peloton Set to Acquire Precor for $420 Million

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Peloton is acquiring Precor to establish Peloton s U.S. manufacturing footprint for its at-home bikes and treadmills.(Photo courtesy Peloton.)
Peloton, New York, has entered into an agreement to acquire Precor, Woodinville, Washington, for $420 million from Finnish sporting goods company Amer Sports, according to a Dec. 21 announcement by Peloton. The transaction is expected to close in early 2021.
Subject to the completion of the transaction, Precor will operate as a business unit within Peloton. Precor President Rob Barker will become CEO, Precor and general manager, Peloton Commercial. He will report to Peloton President William Lynch.
With the acquisition, Peloton plans to establish U.S. manufacturing capacity, boost research and development capabilities and accelerate Peloton’s penetration of the commercial market, the company said. ....

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Peloton Shares Spike on Deal to Buy Precor, Adding U.S. Factories

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Peloton
is acquiring the fitness equipment provider Precor for $420 million in cash from the Finnish sporting goods company Amer Sports. The move will give the maker of connected bikes and treadmills U.S. manufacturing capacity for the first time.
Peloton (ticker: PLTN) says it expects to be producing connected fitness gear in the U.S. market before the end of calendar 2021. That will be welcome news for both investors and customers, given that recent product shortages have resulted in long delivery delays.
Precor will operate as a separate business unit within Peloton, with current Precor President Rob Barker serving as CEO and reporting to Peloton President William Lynch. Amer Sports is owned by an investor group that includes ANTA Sports, FountainVest Partners, Anamered Investments and Tencent. The deal is expected to close in early 2021. ....

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Peloton Interactive, Inc. (NASDAQ:PTON), Apple Inc. (NASDAQ:AAPL) - Peloton Looks To Boost US Manufacturing With $420M Precor Acquisition

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Peloton Interactive Inc (NASDAQ: PTON) said in a statement Monday that it had agreed to purchase fitness equipment maker Precor for $420 million.
What Happened: The New York-based fitness platform said, with the acquisition of Precor, it aims to establish manufacturing capacity in the United States, boost research and development capabilities, and accelerate penetration in the commercial market.
Precor will operate as a business unit within Peloton, post the completion of the deal. Precor President Rob Barker will serve as the company s CEO and as the general manager of Peloton Commercial following the purchase and report to Peloton President William Lynch. ....

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