News Tagged with "Merger"

June 1, 2016

Westport Completes Merger with Fuel Systems

Combination creates innovative, global leader in alternative fuel, engine and vehicle sector

Westport completes merger between Westport and Fuel Systems Solutions. Shareholders of both companies approved the merger at separate special meetings of shareholders. As previously announced, Fuel Systems shareholders will receive 2.4755 Westport common shares for each share of Fuel Systems common stock owned. Fuel Systems shares will no longer be listed on the Nasdaq Exchange or any other securities exchange.

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May 26, 2016

Westport Announces Exchange Ratio for Merger Agreement with Fuel Systems

Compelling merger edges closer to completion

The final exchange ratio has been determined for the proposed business combination (the “Merger”) with Fuel Systems. 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.

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May 20, 2016

Proxy Advisory Firms Have Reaffirmed Recommendation that Fuel Systems Shareholders Vote FOR the Proposed Merger

Merger Agreement already overwhelmingly approved by Westport shareholders

Institutional Shareholder Services, a leading independent proxy advisory firm that provides voting recommendations to institutional investors, has reaffirmed its recommendation that Fuel Systems Solutions shareholders approve the Amended Agreement and Plan of Merger between Westport and Fuel Systems.

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May 2, 2016

Fuel Systems Stockholder Meeting Scheduled For Tuesday, May 31

Fuel Systems’ Board of Directors recommends Fuel Systems stockholders vote “FOR” the Merger with Westport, Compelling merger edging closer to completion

Fuel Systems’ Board of Directors recommends Fuel Systems stockholders vote “FOR” the Merger with Westport; Compelling merger edging closer to completion.

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March 18, 2016

Westport Shareholders Vote For Merger with Fuel Systems at Shareholder Meeting

Merger plus all other resolutions pass with overwhelming shareholder support

At the meeting, shareholders approved the issuance of such number of Westport common shares as required according to the Agreement and Plan of Merger dated September 1, 2015 (as amended) to complete the Merger, with 98% of votes cast voted in favour of the resolution, 94% of votes cast voted in favour of the amendment to Westport’s Omnibus Incentive Plan, and 98% of votes cast voted in favour of amending the articles of incorporation of Westport to change its name from Westport Innovations Inc. to Westport Fuel Systems Inc.

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March 17, 2016

Westport Appoints New Director to Board

Rodney Nunn to join Westport’s Board of Directors

Westport announces that Rodney (Rod) Nunn, President and CEO of KSR International Co.—a leading Tier One automotive supplier—has been appointed to Westport's Board of Directors as part of a nomination agreement between Westport and certain entities affiliated with Westport’s largest shareholder, Kevin Douglas (“the Douglas Group”).

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March 17, 2016

Proxy Advisory Firm Glass Lewis Recommends that Shareholders of Westport Vote for the Proposed Merger

Glass Lewis Has Advised Shareholders to Vote FOR the Business Combination

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March 14, 2016

Proxy Advisory Firm Recommends that Shareholders of Westport Vote For the Proposed Merger

ISS Has Advised Shareholders to Vote FOR the Business Combination

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March 7, 2016

Westport Signs Amendment to Merger Agreement with Fuel Systems

Updated agreement reflects current market conditions, provides greater certainty to Westport and Fuel Systems shareholders

Westport has signed an Amendment to the Agreement and Plan of Merger in relation to the proposed business combination between Westport and Fuel Systems.

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February 23, 2016

Westport Files Management Information Circular for Fuel Systems Transaction and Sets Date for Special Meeting of Shareholders

Compelling Combination To Bring a Broader Global Reach, Enhanced Technological Expertise, and Provide Significant Value to Westport Shareholders

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News Releases

June 27

Cummins Westport Introduces Natural Gas Playbook Website

Featuring Information on Evaluating and Operating Natural Gas Vehicles

June 23

Westport Fuel Systems Announces New Director Nominee for the Upcoming Annual General Meeting

Longstanding director to retire as previously indicated

June 9

Suzuki Italy Chooses BRC LPG Systems to Expand Alternative Fuel Product Offering

Longstanding partnership provides bi-fuel LPG options to growing market

June 5

GHG Reduction Benefits of Natural Gas for Transportation Confirmed by New NGVA Europe Study

Westport Fuel Systems Next-Generation Natural Gas Engine and Vehicle Technologies Validated as a Key Solution for De-carbonizing the Transport Sector