WEST BEND, Wis.—Gehl Co. announced its intent to be acquired by France-based Manitou BF S.A., a manufacturer and distributor of material handling equipment.

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compact equipment for construction and agricultural markets. The transaction has an aggregate value of approximately $450 million.

“We are pleased to announce the next step in the evolution of Gehl Co. toward becoming a more significant player in the global compact equipment marketplace,” says William D. Gehl, chairman and CEO. The combination of Gehl Co. and Manitou offers a substantial value to our shareholders today, while affording our dealers and employees with future opportunities for continued success.”