Pon, a diversified Dutch company that owns a number of bike brands including Santa Cruz, Derby Cycle and Cervélo, seeks to expand its stake in Accell from 5.1% currently to 20%, and is making a partial tender offer at €19.00 per share, a 25% premium over the recent trading price. Last year, Pon offered €33.72 per share in an effort to take Accell private, but it ultimately rejected the advances. The merger of the two companies would have created the world’s largest bike maker with combined sales of over €1.8 billion, slightly larger than Giant Manufacturing, and with a substantial ... Log in to view full article.