Donerail offers to buy MarineMax for $35 per share, Reuters reports

Several months after Donerail Group pressed MarineMax (HZO) to make sweeping changes, the investment group has offered to buy the company for $35 per share in an all-cash deal that would value the superyacht service company at just over $1B, three sources familiar with the matter told Reuters’ Svea Herbst-Bayliss. The bid comes several months after the investment group pressured the company to make major changes ranging from selling itself to replacing its CEO, the author noted. Shares of MarineMax are up 8.3% after the news, while shares of rival OneWater Marine (ONEW) are up about 3%.