Remy International says it will hold a special meeting of stockholders in connection with BorgWarner’s proposed acquisition of Remy.
The special meeting has been scheduled for Remy stockholders to, among other things, consider and vote upon a proposal to adopt the previously- announced merger agreement entered into among Remy, BorgWarner and a wholly owned subsidiary of BorgWarner.
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In the terms of the merger agreement, each share of common stock of Remy issued and outstanding immediately prior to the effective time of the merger (other than excluded shares and dissenting shares) will be converted into the right to receive US$29.50 per share in cash, without interest and less any applicable withholding taxes.
The special meeting is currently scheduled to be held on 22 September at Remy’s headquarters in Pendleton, Indiana.
Remy’s board of directors recommends a vote for approval of the proposal to adopt the merger agreement.
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