Textron completed the cash tender offer by Aces Acquisition, an indirect wholly owned subsidiary of Textron, for all of the issued and outstanding shares of common stock of Arctic Cat.

Wells Fargo Bank, the depositary for the tender offer, has indicated that, as of the expiration of the tender offer, 10,320,282 shares had been tendered into and not properly withdrawn from the tender offer. These shares represent approximately 79% of the outstanding shares and 73% of the shares on a fully diluted basis, as determined pursuant to the agreement and plan of merger.

Textron intends to exercise its option under the merger agreement to purchase directly from Arctic Cat an additional number of shares that, when combined with the shares purchased in the tender offer, will represent at least one share more than 90% of the shares on a fully diluted basis. Textron then intends to effect a short-form merger under Minnesota law as promptly as practicable, without the need for a meeting of the shareholders of Arctic Cat.

After the merger, Arctic Cat will be an indirect wholly owned subsidiary of Textron, the shares will cease to be traded on the NASDAQ and Arctic Cat will no longer have reporting obligations under the Securities and Exchange Act of 1934.