Brief: Sevcon signs definitive agreement to be acquired by BorgWarner

Sono NV

17/07/2017 12:30

July 17 (Reuters) - Sevcon Inc  SEV.O - 
    * Sevcon signs definitive agreement to be acquired by 
BorgWarner 
    * Sevcon Inc - transaction price of $22.00 per share 
represents a 61% premium to closing sale price of common stock 
of company on Friday 
    * Sevcon inc - sevcon board of directors has unanimously 
approved merger agreement and has recommended approval of merger 
by Sevcon's stockholders 
    * Sevcon Inc - transaction is not subject to a financing 
condition 
    * Sevcon Inc - total transaction value, including 
assumption of indebtedness, is expected to be approximately $200 
million at closing of transaction 
 
Source text for Eikon:  ID:nGNXOADANa  
Further company coverage:  SEV.O  
 
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