© ZF Electronics Production | July 01, 2019
WABCO shareholders says 'Ok' to ZF acqusition
ZF Friedrichshafen has received the approval of WABCO shareholders for the proposed acquisition of WABCO.
In a shareholder vote on June 27th, 2019, 68.44 % of WABCO’s outstanding share capital voted in favour of the transaction agreed by ZF and WABCO in late March 2019. Under the terms of the transaction, ZF will acquire all outstanding shares of WABCO for USD 136.50 per share in cash, subject to regulatory approvals and other customary closing conditions. “It is a confirmation of our strategy that WABCO shareholders have approved this important transaction. Together with WABCO, ZF can form an integrated systems provider for commercial vehicle technology, creating long-term value and security for our customers, employees and shareholders. We will be shaping the future of technologies and services for efficiency, safety, automation and connectivity in the commercial vehicle sector together with the WABCO management,” says Wolf-Henning Scheider, CEO of ZF in a press release. ZF expects to be able to close the transaction in early 2020. At that time, shares of WABCO’s common stock will no longer be traded on any public market. During the intended integration of WABCO, the central focus will remain on the customers and day-to-day business operations.