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Westport Announces Exchange Ratio for Merger Agreement with Fuel Systems
Westport Announces Exchange Ratio for Merger Agreement with Fuel Systems Westport ...
About this update from Westport Fuel Systems, Inc.
[{"type":"text","content":"\n\n\n\nWestport Announces Exchange Ratio for Merger Agreement with Fuel Systems\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nWestport Announces Exchange Ratio for Merger Agreement with Fuel Systems\nCanada NewsWire\nVANCOUVER, May 26, 2016\n\n\n\n~ Compelling merger edges closer to completion ~\n\n\n\nVANCOUVER, May 26, 2016 /CNW/ - Westport Innovations Inc. (TSX:WPT / Nasdaq:WPRT) (\"Westport\"), engineering the world's most advanced natural gas engines and vehicles, today announced that the final exchange ratio has been determined for the proposed business combination (the \"Merger\") with Fuel Systems Solutions, Inc. (\"Fuel Systems\") (Nasdaq:FSYS). Assuming the Merger closes as anticipated on June 1, 2016, Fuel Systems stockholders will receive 2.4755 Westport common shares for each share of Fuel Systems common stock owned upon completion of the Merger.\n\n\"The proposed Merger with Fuel Systems will dramatically improve our joint business portfolio and provide long-term value to shareholders of the combined company, along with benefits for customers, business partners and employees,\" said David Demers, Westport CEO. \"Westport shareholders have already voted in favour of the Merger resolution and we are confident that there is also widespread support from Fuel Systems stockholders. We look forward to working together as one company as we await the results of Fuel Systems'  May 31, 2016 stockholder meeting.\" \n\nMajor proxy advisory firms, Institutional Shareholder Services Inc. (\"ISS\") and Glass Lewis & Co., recently reaffirmed their recommendations that Fuel Systems shareholders vote FOR the proposed Merger. \n\nBenefits of the Merger to Shareholders of both companies\n\nThe Westport Board of Directors believes that the Merger will provide the shareholders of both companies with a number of significant strategic and financial benefits, including:\n\n\nScale – The combined company is expected to deliver the scale and expertise to compete effectively, grow, and deliver strong shareholder returns. \nStrength &#...