Brief: Shyft Says Co, Aebi Schmidt To Combine In All-Stock Merger

Shyft

16/12/2024 10:30

Dec 16 (Reuters) - Shyft Group Inc  SHYF.O :
    * SHYFT: CO, AEBI SCHMIDT TO COMBINE IN ALL-STOCK MERGER
    * SHYFT: AT CLOSING, CO'S SHAREHOLDERS TO OWN 48% OF
COMBINED CO,
WITH AEBI SHAREHOLDERS OWNING 52%
    * SHYFT: $25 MILLION TO $30 MILLION IN EXPECTED SYNERGIES
FROM
DEAL BY YEAR TWO, EPS ACCRETION IN YEAR ONE
    * SHYFT: BAREND FRUITHOF, CEO OF AEBI, TO BE CEO OF COMBINED
CO;
JAMES SHARMAN OF SHYFT TO BE CHAIRMAN
    * SHYFT: COMBINED CO WILL TRADE ON NASDAQ, WITH HEADQUARTERS
IN
SWITZERLAND

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 ((Reuters.Briefs@thomsonreuters.com))