Winnebago Industries Inc., maker of the cult favorite recreational vehicles, reviewed and rejected an unsolicited $321.5 million takeover bid from a private equity firm Friday. In a letter, North Street Capital offered $11 per share in cash for Winnebago – a 29% premium over the Iowa company’s Thursday close. But Winnebago said in a statement that the letter didn’t have “sufficient information to deem the offer as credible” and that the proposal was conditional upon further due diligence and negotiation. The company said it would look at more information if Connecticut-based North Street decides to offer it and then “respond in due course.” Winnebago RVs are seemingly omnipresent in popular culture, showing up as a rocket ship in Mel Brooks’ "Spaceballs" film, in "National Lampoon" releases and in songs from the Dead Kennedys and others. The company’s stock has been volatile in the past 12 months, swinging to close at $8.51 a share Thursday from $12.02 a year earlier. On Friday, the stock surged to $10.02 a share on the news of the buyout offer and was trading up 6.7% at $9.08 in afternoon trading in New York.

ELKHART, Ind. (AP) – The 1916 Cozy Camper sat off a winding black road near the edge of sand and grass, its orange canvas flaps pulled open to reveal two thin blue mattresses atop metal springs. Nearby, Margaret Campbell marveled over the back porch included in a blue 1931 Chevrolet house car that Paramount Studios had built to help lure Mae West out of vaudeville and into movies. “I'd be in trouble with that,” Campbell said. “I'd be out here waving to all the drivers.” For thousands of recreational vehicle devotees who visit each year, the RV/MV Hall of Fame in Elkhart, Ind., is the equivalent of a pilgrimage to Elvis Presley's Graceland. The 55,000-square-foot shrine to the RV industry showcases America's love affair with camping and the free-wheeling lifestyle that has spawned dozens of clubs professing their loyalty to all things Winnebago. “They need to see where their roots come from,” said Campbell, a Cheboygan, Mich., resident who has made her home in a 40-foot-long motor home since she and her husband, Bill, retired six years ago. “They need to see it. They need to touch it. They need to smell it—even the mold,” she said. “I'm just blown away.”

PLEASANTON, CA, May 10, 2012 (MARKETWIRE via COMTEX) -- After weathering the economic storm for years, the RV industry is growing again and organizers of the 20th Annual Northern California Spring RV Show expect a large crowd of bargain hunters to show up for Nor Cal's biggest indoor/outdoor RV show May 18-27. During the first two months of 2012, RV manufacturers shipped 43,300 units, an increase of 15.2 percent over the same period last year, according to the Recreational Vehicle Industry Association. Shipments in 2012 are expected to total 265,200 units, an increase of 5.1 percent from 2011 and the most since 2007, according to RV industry analyst Richard Curtin. Sales will benefit from stronger economic growth, increased job opportunities and easing consumer credit, Curtain said. "The recession was hard on everybody," said Shawn Nohr, manager of GoodTimes Promotions, which is hosting the event. "But we've seen things picking up. Our winter show broke attendance records, and we're expecting more of the same."