Cannondale For Sale for $200 Million

Amidst tons of speculation over the last few months an article just went up on Bicycle Retailer today suggesting that Cannondale is being looked at by the parent company of Pacific Cycle (owners of GT, Schwinn and Mongoose) for a possible buy out.

Cannondale went bankrupt in 2003 and was purchased by a private equity firm called Pegasus for $58 Million. For the last several months Pegasus has had Cannondale up for sale for $200 Million. Analysts don't think that it is a reasonable price and the company will likely sell for less than that.

Not sure how this one is going to play out, but apparently the deal is getting more attractive as the US dollar gets driven into the ground and the Canadian dollar gains value. Since Dorel, Pacific's parent company is Canadian the deal is starting to look pretty good.