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eritor, Inc. (NYSE:MTOR) today announced that its shareholders have voted to approve the previously announced pending acquisition by Cummins Inc. (NYSE:CMI) at a special meeting.
"The strong support our shareholders have expressed for this transaction reflects the compelling value and important opportunity to shape the future of powertrain components and accelerate development of electrified power solutions for commercial vehicles," said Chris Villavarayan, CEO and president of Meritor. "We look forward to securing the remaining regulatory approvals and closing the transaction."
Meritor continues to work toward completing the transaction and remains focused on supporting its customers around the world. The transaction is expected to close by the end of calendar year 2022, subject to the satisfaction or permitted waiver of all remaining closing conditions and receipt of applicable regulatory approvals.
The final voting results for each proposal voted on at the special meeting will be set forth in a Form 8-K filed by Meritor with the U.S. Securities and Exchange Commission.
