Dover Saddlery To Be Taken Private For $8.50 Per Share - Quick Facts

(RTTNews) - Dover Saddlery, Inc. (DOVR), a multichannel retailer of equestrian products, said it has entered into a definitive merger agreement under which a company formed by Webster Capital would acquire all outstanding shares of Dover common stock for $8.50 per share in cash and take Dover private.

At closing all in-the-money stock options and warrants will be cashed out. Webster is partnering with QIC, one of Webster's largest institutional investors, to provide equity financing.

The Dover Board of Directors has unanimously approved the merger agreement and recommended that the company's stockholders vote to approve the transaction.

The offer represents a significant premium over Dover's current share price. The transaction is expected to close in the second quarter of fiscal 2015.