Brief: Tecogen to acquire American DG energy in stock deal
02/11/2016 12:00
Nov 2 (Reuters) - Tecogen Inc TGEN.O
* Tecogen to acquire American DG energy
* Each share of American DG common stock will be exchanged
for 0.092 shares of Tecogen common stock
* Combined company will retain Tecogen name and be led by
co-chief executive officers John Hatsopoulos and Benjamin Locke
* Tecogen - combined companies expect to benefit from about
$1 million of general and administrative cash savings as
duplicative functions are eliminated
* Tecogen - co's shareholders expected to own about 81% and
American DG shareholders expected to beneficially own about 19%
of combined company
* Stock-For-Stock transaction is intended to be structured
such that it is tax-free to shareholders
* "there are no lock-up agreements, no-shop covenants or
termination fees contained in merger agreement"
* Tecogen to acquire American DG energy
Source text for Eikon: ID:nPn3k2Wrta
Further company coverage: TGEN.O
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