Horizon Global Corporation (HZN) News

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CONGRATS!

CONGRATS!

$HZN: Great Call at 0.50.... Going private at $1.75

I call that a GREAT way to start off 2023.

Loaded 16000 shares. The ask is empty now no walls . Not selling under 5

Well DONE.


WOooooooooooohhhhhhhhhhhhhhhhhhhhooooooooooooooooo


GO $HZN

OMGGG

Guess who held

Horizon Global Announces Agreement with First Brands Group
January 03 2023 - 06:30AM
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Horizon Global Corporation (NYSE: HZN) (“Horizon Global”), one of the world’s leading manufacturers of branded towing and trailering equipment, today announced it has entered into a definitive merger agreement with First Brands Group, LLC (“First Brands”), a global automotive parts manufacturer that serves the worldwide automotive aftermarket, pursuant to which First Brands will acquire Horizon Global (the “Transaction”). The terms of the Transaction include an all-cash tender offer, which upon successful closing will entitle each stockholder of Horizon Global’s common stock to receive cash consideration of $1.75 per share.

Highlights of the Transaction:

The Transaction will result in a collection of market leading brands within the automotive industry, serving both OEM and the aftermarket channels under one group. Horizon Global’s portfolio of pioneering towing and trailering brands and innovative products are complementary to First Brand’s well recognized portfolio of braking solutions, filters, wiper blades, gas springs, spark plugs and fuel and water pumps, offering best-in-class technology, engineering, manufacturing and customer service.
The combined group will have improved access to capital to ensure the continued growth and product development that has been a long-term strategic priority for Horizon Global, enabling the group to focus on serving its broad customer base without interruption.
Despite the difficult market backdrop, the Transaction represents a 31% premium to the trading price prior to the strategic alternative announcement in August 2022, and a 237% premium over the 30 day volume weighted trading price in Horizon Global’s common stock.
“The Transaction represents the culmination of a thorough review of strategic alternatives announced in August and represents what we believe is the best outcome for our customers, suppliers, shareholders and employees,” stated Horizon Global’s interim CEO and Board Chair John C. Kennedy. “After consideration of a number of different alternatives, the Board believes this Transaction is the best path forward for shareholders to address Horizon Global’s capital needs while supporting the long-term growth and sustainability of Horizon Global’s business. Our management team and employees of Horizon Global are committed to delivering innovative, high-quality towing and trailering products, and this Transaction provides the resources needed to deliver on that commitment.”

“We are pleased to welcome Horizon Global to the First Brands family, we are excited to build on Horizon Global’s established products, brands and customers and we look forward to realizing benefits for both Horizon Global and First Brands as we move forward,” stated Guy Andrysick, Executive Vice President, First Brands.

The closing of the Transaction is subject to certain conditions, including the tender of shares representing at least a majority of the total number of Horizon Global’s outstanding shares of common stock, the tender of Series B preferred stock at a cash consideration equal to the applicable redemption price and other customary conditions. Other than filings with the SEC, no regulatory filings or approvals are anticipated in connection with the Transaction. Horizon Global expects the Transaction to be completed in the first quarter of 2023.

Jefferies LLC acted as financial advisor and Lincoln International LLC provided a Fairness Opinion to Horizon Global, and Jones Day acted as legal counsel to Horizon Global. Paul Hastings LLP acted as legal counsel to First Brands.

Important Information About the Tender Offer

The tender offer for the outstanding shares of common stock and Series B preferred stock of Horizon Global referenced in this document has not yet commenced. This document is for informational purposes only and is neither an offer to purchase nor a solicitation of an offer to sell shares, nor is it a substitute for the tender offer materials that First Brands and its subsidiary will file with the SEC. At the time the tender offer is commenced, First Brands and its subsidiary will file tender offer materials on Schedule TO, and, thereafter, Horizon Global will file a Solicitation/Recommendation Statement on Schedule 14D-9 with the SEC with respect to the tender offer.

THE TENDER OFFER MATERIALS (INCLUDING AN OFFER TO PURCHASE, A RELATED LETTER OF TRANSMITTAL AND CERTAIN OTHER TENDER OFFER DOCUMENTS) AND THE SOLICITATION/RECOMMENDATION STATEMENT WILL CONTAIN IMPORTANT INFORMATION. HORIZON GLOBAL’S STOCKHOLDERS ARE URGED TO READ THESE DOCUMENTS CAREFULLY WHEN THEY BECOME AVAILABLE (AS EACH MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME) BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION THAT HOLDERS OF SHARES OF HORIZON GLOBAL’S COMMON STOCK AND SERIES B PREFERRED STOCK SHOULD CONSIDER BEFORE MAKING ANY DECISION REGARDING TENDERING THEIR SHARES.

The Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, will be made available to all of Horizon Global’s stockholders at no expense to them. The tender offer materials and the Solicitation/Recommendation Statement will be made available for free at the SEC’s website at www.sec.gov. Additional copies of the tender offer materials may be obtained for free by contacting First Brands at First Brands Group, LLC, 127 Public Square, Suite 5300, Cleveland, Ohio 44114 or (216) 906-2744 or by contacting Horizon Global at Horizon Global Corporation 47912 Halyard Drive, Suite 100, Plymouth, Michigan 48170 or (734) 656-3000. In addition to the Offer to Purchase, the related Letter of Transmittal and certain other tender offer documents, as well as the Solicitation/Recommendation Statement, Horizon Global files annual, quarterly and current reports and other information with the SEC.

About Horizon Global

Headquartered in Plymouth, MI, Horizon Global is a leading designer, manufacturer and distributor of a wide variety of high-quality, custom-engineered towing, trailering, cargo management and other related accessory products in North America, Europe and Africa. Horizon Global serves automotive original equipment manufacturers, retailers, dealer networks and the end consumer as the category leader in the automotive, leisure and agricultural market segments. Horizon Global provides its customers with outstanding products and services that reflect Horizon Global's commitment to market leadership, innovation and operational excellence. Horizon Global’s mission is to utilize forward-thinking technology to develop and deliver premium products for our customers, engage with our employees and create value for our shareholders.

Horizon Global maintains a collection of regionally recognized brands in the towing and trailering industry, including: Draw-Tite, Reese, Westfalia, BULLDOG, Fulton and Tekonsha. Horizon Global has approximately 3,500 employees.

For more information, please visit www.horizonglobal.com.

About First Brands

Loaded 16000 shares. The ask is empty now no walls . Not selling under 5

News: $HZN Horizon Global Reports Financial Results for Second Quarter 2020

Second Quarter Highlights Improved Cash and Availability (3) to $45.5 million Refinanced First and Second Lien Term Loans into single term loan facility; extends maturity, maintains interest rate level and supports Company’s long-term strategic plan Net sales of $120...

Find out more HZN - Horizon Global Reports Financial Results for Second Quarter 2020

News: $HZN Horizon Global Board of Directors Appoints Terrence G. Gohl as Chief Executive Officer

Gohl also appointed to the Company’s Board of Directors Horizon Global Corporation (NYSE: HZN), the world’s leading manufacturer of branded towing and trailering equipment, announced today that the Company’s Board of Directors appointed Terrence G. Gohl as Chief Ex...

Got this from HZN - Horizon Global Board of Directors Appoints Terrence G. Gohl as Chief Executive Officer

Nice! With a lower debt load HZN is a much better investent. We should continue to see a rise in PPS IMO. I'm still long here. I hope people loaded up on the recent dip.

News: $HZN Horizon Global Announces Definitive Agreement to Sell Asia-Pacific Business Segment

Proceeds to be Used to Significantly Reduce Debt Horizon Global Corporation (NYSE: HZN), one of the world’s leading manufacturers of branded towing and trailering equipment, announced today that the Company has entered into a definitive agreement to sell its Asia-Pacific (APAC) ...

In case you are interested Horizon Global Announces Definitive Agreement to Sell Asia-Pacific Business Segment

News: $HZN Horizon Global Announces Date for Second Quarter 2019 Results Conference Call

Horizon Global (NYSE: HZN) announced today that it will host a conference call regarding the Company’s second quarter 2019 results on Thursday, August 8, 2019, at 8:30 a.m. Eastern Time. The conference call will be hosted by Horizon Global President and Chief Executive Officer Carl Biz...

In case you are interested Horizon Global Announces Date for Second Quarter 2019 Results Conference Call

HZN is at $4.50 now :)

It's a great way to get the debt down enough to become profitable again. I'm all for it.

News: $HZN Horizon Global Initiates Process to Explore Sale of Its Asia-Pacific Segment

Company Considering Various Alternatives to Reduce Debt Horizon Global Corporation (NYSE: HZN), the world’s leading manufacturer of branded towing and trailering equipment, announced today that the Company has initiated a formal process to explore the sale of its Asia-Pacific (...

In case you are interested https://marketwirenews.com/news-releases/horizon-global-initiates-process-to-explore-sale-of-its-asia-pacific-segment-8319158.html

Right on right on.

HZN is now at $4.04 ;)

Yes very nice day glad I did as well, I always hold back a little to see. Have to ride the freebies. Congrats.

Great close today! I'm glad I held some. 4+ PPS is next.

News: $HZN Horizon Global Reports Financial Results for First Quarter 2019

Business Update Business improvement initiatives drive better consolidated operating results Horizon Americas fully stocked for peak U.S. selling season despite slower start to year due to late spring Net sales of $209.7 million, down 3.3 percent Net sales increased 1.3 ...

In case you are interested https://marketwirenews.com/news-releases/horizon-global-reports-financial-results-for-first-quarter-2019-8150466.html

We should hit 3.00+ any day now.

Impressive recovery for HZN this month. We're close to hitting $3. Every dip we have though I'm adding more. I love the share structure here. Major possibilities once bears start to cover.

Indeed, looking for the rise back to 3+ this thing has a heavy bear foot print at some point one has to call it a day and cover.

Great close today.

Yes it does.

HZN is looking good this morning. Looks like a pps recovery is underway.

HZN'S low float makes it easy to swing trade. I continue to add to my position without additional funds. $HZN

HZN should get the debt down eventually with all of this revenue coming in.
They may need to sell some of their assets or do a spin off though IMO.

HZN will recover. I'm building my position.

Loaded a few more of $HZN on the dip today. I was hoping for under $2, but I'll take what I can get.

Great day today! $HZN

Time has come.

HZN is looking a little better today. We're in loading zone IMO.

Easy buy out $4+. SP is at huge discount.

Down over 90% in two years.

Saw this ticker on MSN which said should see a bounce after its devastating drop. What caused the drop? Anyone please respond

HZN bullish 21.13



normal chart


log chart