Northern,WI  10/22/2012 (BasicsMedia)  —  Cascade (NASDAQ:CASC): +17% Toyota Buys Supplier Shares of truck part maker Cascade Corporation (CASC) surged after the company announced earlier a definitive agreement under which Toyota Industries Corporation will acquire 100% of the shares of Cascade for $65 per share in cash. The companies said the transaction, valued at $759M pursuant to a tender offer, has been unanimously approved by the Boards of Directors of both TICO and Cascade and that the transaction is not subject to a financing condition. The merger deal is expected to close by the end of calendar year 2012.

Cascade Corporation engages in the manufacture and distribution of materials handling load engagement devices and related replacement parts under the Cascade name primarily for the lift truck and construction industries worldwide. It offers lift truck related products that are designed to handle loads with pallets and for specialized application loads without pallets; and specialized products, which include devices specifically designed to handle appliances, carpet and paper rolls, baled materials, textiles, beverage containers, drums, canned goods, bricks, masonry blocks, lumber, and plywood, as well as boxed, packaged, and containerized products. The company also provides construction related products to enable loaders, backhoes, and rough terrain lift trucks to move materials, as well as for use on excavators and loaders for conventional and specialized ground engagement applications. Its customers include lift truck original equipment manufacturers (OEM), original equipment dealers, and distributors; and OEMs who manufacture construction, mining, agricultural, and industrial vehicles. The company sells its products to the end-users through the retail lift truck dealer distribution channel and to lift truck manufacturers as OEM equipment. It serves various industries, such pulp and paper, grocery products, textiles, recycling, and general consumer goods industries; and construction markets, including infrastructure, demolition, recycling, forestry, utility, and general construction. The company was founded in 1943 and is headquartered in Fairview, Oregon.

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