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  • Saturday, November 16, 2024

Report: AM General Could Seek Potential Buyers


AM General has tapped financial services firm Macquarie Group to seek out buyers for the South Bend, Ind.-based military ground vehicle manufacturer, Reuters reported Tuesday.

Reuters estimates AM General is worth more than $2B based on the company’s recent contract wins and its limited liability corporation structure, which could offer a “favorable” tax rate for the buyer.

Last month, the Army awarded the company a $562M contract to produce ambulance-configured High Mobility Multipurpose Wheeled Vehicles and another $51M contract to refurbish some of the service’s current Humvees.

Unnamed sources told Reuters that AM General could attract bids from other military vehicle builders such as BAE Systems, General Dynamics (NYSE: GD) and Oshkosh Corp. (NYSE: OSK).

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