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 Textron Inc. TXT announced today the successful completion of the 
 cash tender offer by Aces Acquisition Corp. ("Purchaser"), 
 an indirect wholly owned subsidiary of Textron, for all of the issued 
 and outstanding shares of common stock (the "Shares") 
 of Arctic Cat Inc. ACAT, which expired at 5:00 p.m., New York 
 City time, on March 3, 2017.
 
 
 Wells Fargo Bank, N.A., 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 Shares had been tendered into and not properly withdrawn from the tender 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, dated January 24, 2017 
 (the "Merger Agreement"), among Textron, 
 Purchaser and Arctic Cat). In addition, the depositary has received 
 commitments to tender approximately 344,208 Shares in accordance with 
 the guaranteed delivery procedures, which, when combined with the Shares 
 tendered and not properly withdrawn from the tender offer, represent 
 approximately 82% of the outstanding Shares and 75% of the Shares on a 
 fully diluted basis (as determined pursuant to the Merger Agreement). 
 All Shares that were validly tendered into the tender offer and not 
 properly withdrawn have been accepted for payment.
 
 
 Textron announced that Purchaser intends to exercise its option (the "Top 
 Up 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 (as determined 
 pursuant to the Merger Agreement). Textron then intends to cause 
 Purchaser to effect a "short-form" merger under Minnesota law as 
 promptly as practicable following the exercise of the Top Up Option, 
 without the need for a meeting of the shareholders of Arctic Cat.
 
 
 As a result of the merger, each outstanding Share (other than Shares 
 owned by (a) Textron or Purchaser or any other subsidiary of Textron or 
 (b) any shareholder of Arctic Cat who is entitled to and properly 
 demands and exercises dissenters' rights with respect to such Shares 
 pursuant to, and complies in all respects with, the applicable 
 provisions of Minnesota law) will at the effective time of the merger be 
 converted into the right to receive $18.50, payable net to the holder 
 thereof in cash, without interest, subject to any withholding of taxes 
 required by applicable law.
 
 
 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, as amended.
 
 
 About Textron Inc.
 
 
 Textron Inc. is a multi-industry company that leverages its global 
 network of aircraft, defense, industrial and finance businesses to 
 provide customers with innovative solutions and services. Textron is 
 known around the world for its powerful brands such as Bell Helicopter, 
 Cessna, Beechcraft, Hawker, Jacobsen, Kautex, Lycoming, E-Z-GO, 
 Greenlee, Textron Off Road, Textron Systems, and TRU Simulation + 
 Training. For more information visit: <a xmlns="http://www.w3.org/1999/xhtml" href="http://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.textron.com%2F&amp;esheet=51520601&amp;newsitemid=20170306005360&amp;lan=en-US&amp;anchor=www.textron.com&amp;index=1&amp;md5=1da46ae39c52727d4116a9c3c86c683c" rel="nofollow" rel="nofollow">www.textron.com</a>.
 
 
 Certain statements in this press release may describe strategies, 
 goals, outlook or other non-historical matters; these forward-looking 
 statements speak only as of the date on which they are made, and we 
 undertake no obligation to update them. These statements are subject to 
 known and unknown risks, uncertainties, and other factors that may cause 
 our actual results to differ materially from those expressed or implied 
 by such forward-looking statements.
 
 
 
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Textron Inc. Announces Completion of Initial Offering Period and Intent to Exercise Top Up Option and Complete Merger - Textron (NYSE:TXT)

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