Westport and Fuel Systems Solutions Announce Intention to Merge
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Westport (WPRT), Fuel Systems (FSYS) Enter Merger Agreement
September 1, 2015 9:51 AM EDTWestport (NASDAQ: WPRT) and Fuel Systems Solutions, Inc. (Nasdaq: FSYS), jointly announce that the companies have entered into a merger agreement to create a premier alternative fuel vehicle and engine company. The transaction will result in a combined equity value of $351 million based on the closing trading prices for the shares of both companies on August 31, 2015 and combined annual revenues ranging from $380 to $405 million projected for 2015. The combined company will benefit from complementary product solutions, and a fortified global footprint, with efficient operations and a core focus in developing... More
