Blue Bird Tender Offer to Buy up to $50 Million of its Capital Stock at $28

FORT VALLEY, Ga. — Blue Bird Corp. (NASDAQ: BLBD) announced today that it is commencing a tender offer to purchase up to $50 million in aggregate value of shares of its (i) common stock at a price of $28.00 per share, and (ii) 7.625% Series A Convertible Cumulative Preferred Stock, at a price of $241.69 per share, which is equal to the common stock offer price multiplied by 8.6318.

Blue Bird Fiscal 2018 Third Quarter Impacted by Commodities Headwind

MACON, Ga. — Blue Bird Corp. (NASDAQ: BLBD), the leading independent designer and manufacturer of school buses, announced today its fiscal 2018 third quarter results. Blue Bird Corp. delivered higher net income, up 9.3 percent from the prior year as well as solid Adjusted EBITDA of $23.7 million. Strong earnings were delivered, despite higher commodity costs.

Cummins Makes $500 Million Accelerated Share Repurchase

COLUMBUS, Ind. — Cummins, Inc. (NYSE:CMI) today announced that it has entered into an accelerated share repurchase (ASR) agreement with Goldman, Sachs & Co. LLC. (GS&Co.) to repurchase $500 million of Cummins’ common stock. Today’s ASR is part of Cummins’ previously announced share repurchase plans authorized by the Board of Directors and is consistent with the company’s plans to return 75 percent of Operating Cash Flow to shareholders in 2018.