康明斯收购商人

康明斯公司（NYSE：CMI）和Meritor，Inc。（NYSE：MTOR）今天宣布，他们已签订了一项确定，康明斯将收购Drivetrain，Mobility，Mobilition，Braking，Aserakeret，Aseravermarket和Electric Powertrain Solutions的全球领导者Moeritor，用于商用车和工业市场。根据该协议的条款，康明斯将支付36.50美元的每个商人份额现金，总交易价值约为37亿美元，包括假定的债务和净现金。

“对官方的收购是康明斯的重要里程碑。Meritor是行业领导者，增加其互补优势将帮助我们解决我们这个时代最关键的技术挑战之一：为商业和工业应用开发经济可行的零碳解决方案。。“气候变化是我们这个时代的存在危机，这一收购加速了我们解决问题的能力。我们的客户需要经济可行的脱碳解决方案。”

LineBarger补充说：“此外，我们的社区和我们的星球都取决于康明斯这样的公司投资和开发这些解决方案。”此次收购将产品添加到独立于动力总成技术的组件业务中，并利用我们的全球足迹，我们期望加快Meritor Core Axle和Brake Business的增长。此次收购也有一个令人信服的财务案例，在SG＆A，供应链运营和设施优化方面预期有重大协同作用。”

“与康明斯的这项协议建立在Moeritor为客户的出色绩效和服务的轨道纪录上。csgo菠菜网roll随着商业车辆转变为电动和自治，我们的产品将继续发挥重要的战略作用。“在结束时，截至2022年2月18日，商人股东将立即以48％的溢价获得48％的溢价，而客户将受益于技术增强的技术能力以及加速对Axle和Brake Development和Brake Development和Brake Development和电动汽车采用。我们的全球团队成员及其对卓越的承诺有助于使这项交易成为可能，并在我们长期以来遗产的下一章开始时会推动我们的创新。”

战略理由

Meritor是Axle和Brake Technology的行业领导者。Meritor的人员，技术和能力的整合将使Cummins成为少数能够在燃烧和电力应用中提供集成的动力总成解决方案的公司之一。这是将这种组​​合作为对脱碳溶液的需求加速的合适时机。康明斯认为，Eaxles将是混合动力和电动传动系统中的关键集成点。通过加快Moeritor在电气化和将开发整合其新电力业务中的投资，康明斯希望向全球客户提供市场领先的解决方案。

Meritor的遗产可以追溯到110年以上。该公司总部位于密歇根州特洛伊市，拥有9,600多名员工，为全球各地的商用卡车，拖车，非公路，国防，专业和售后市场客户提供服务。

预计对MORITOR的收购将立即增值康明斯的调整后的EPS，预计将在结束后三年级产生年度税前的运行率协同效应约为1.3亿美元。康明斯打算使用公司资产负债表和债务的现金结合来为交易提供资金，并仍致力于维持其强大的信用评级。

Moeritor董事会已一致批准与康明斯的协议，并建议在股东特别会议上投票支持交易，以与交易有关。该交易受习惯结案条件的约束，并收到适用的监管机构批准和股东批准，预计将在日历年末结束。

康明斯会美国东部时间上午9:30与分析师和投资者联系今天讨论此交易的好处。参加该电话会议的是康明斯董事长兼首席执行官Tom LineBarger，Mark Smith，Cummins的首席财务官Mark Smith，Meritor首席执行官兼总裁Chris Villavarayan。

Morgan Stanley＆Co。LLC担任康明斯的财务顾问，Mayer Brown担任法律顾问。J.P. Morgan Securities LLC担任Meritor和Wachtell，Lipton，Rosen＆Katz的财务顾问，担任法律顾问。

关于MORITOR

Meritor，Inc。是全球领先的动力传动系统，移动性，制动，售后市场和电动动力总成解决方案，用于商用车和工业市场。该公司拥有超过110年的遗产，可提供具有卓越性能，效率和可靠性的创新产品，因此该公司在全球范围内为商业卡车，拖车，高速公路，国防，专业和售后市场提供服务。Meritor总部位于美国密歇根州的Troy，由大约9,600名不同的员工组成，他们在19个国家 /地区应用其知识和技能，包括制造设施，工程中心，合资企业，分销中心和全球办事处。商人普通股在纽约证券交易所以股票符号MTOR交易。有关重要信息，请访问公司的网站www.meritor.com。

关于前瞻性陈述的警告语言

该版本在1995年《私人证券诉讼改革法案》的“安全港”规定的含义中包含某些前瞻性陈述，与康明斯和对机之间的拟议交易有关，包括有关交易的利益和时间安排的陈述as statements regarding the companies’ products and markets. Forward-looking statements are typically identified by words or phrases such as “expects,” “anticipates,” “believes,” “estimates,” “intends,” “plans to,” “ought,” “could,” “will,” “should,” “likely,” “appears,” “projects,” “seeks,” “forecasts,” “outlook,” “may” and similar expressions. These statements are not guarantees of future performance and involve certain risks, uncertainties and assumptions, which we refer to as "future factors," which are difficult to predict. Actual outcomes and results may differ materially from those expressed or projected in such forward-looking statements. Such risks and uncertainties include, among others, the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement between the parties to the proposed transaction; the failure to obtain the approval of Meritor’s shareholders; the failure to obtain certain required regulatory approvals or the failure to satisfy any of the other closing conditions to the completion of the proposed transaction within the expected timeframes or at all; risks related to disruption of management’s attention from ongoing business operations due to the transaction; the effect of the announcement of the transaction on Cummins’ and Meritor’s ability to retain and hire key personnel, to maintain relationships with customers, suppliers and others with whom Meritor and Cummins do business, or on the companies’ respective operating results and businesses generally; the ability to meet expectations regarding the timing and completion of the transaction; the duration and severity of the COVID-19 pandemic and its effects on public health, the global economy, and financial markets, as well as Meritor and Cummins’ industries, customers, operations, workforce, supply chains, distribution systems and demand for their respective products; reliance on major OEM customers and possible negative outcomes from contract negotiations with major customers, including failure to negotiate acceptable terms in contract renewal negotiations and the ability to obtain new customers; the outcome of actual and potential product liability, warranty and recall claims; technological changes in Meritor’s and Cummins’ industries as a result of the trends toward electrified drivetrains and the integration of advanced electronics and the impact on the demand for products and services; labor relations of the respective companies, suppliers and customers, including potential disruptions in supply of parts to facilities or demand for products due to work stoppages; possible adverse effects of any future suspension of normal trade credit terms by suppliers; potential impairment of long-lived assets, including goodwill; potential adjustment of the value of deferred tax assets; competitive product and pricing pressures; the amount of Meritor’s and Cummins’ debt; the ability to continue to comply with covenants in Meritor’s and Cummins’ financing agreements; the companies’ ability to access capital markets; credit ratings of Meritor’s and Cummins’ debt; the outcome of existing and any future legal proceedings, including any proceedings or related liabilities with respect to environmental, asbestos-related, or other matters; possible changes in accounting rules; and the other risks listed from time to time in Meritor’s and Cummins’ filings with the SEC and other substantial costs, risks and uncertainties, including but not limited to those detailed in Meritor’s Annual Report on Form 10-K for the year ended October 3, 2021 and Cummins’ Annual Report on Form 10-K for the year ended December 31, 2021 and from time to time in other filings of Meritor and Cummins with the SEC. These forward-looking statements are made only as of the date hereof, and neither Meritor nor Cummins undertakes any obligation to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as otherwise required by law.

有关合并以及在哪里找到合并的其他信息

此版本与涉及Moeritor和Cummins的建议交易有关。此版本不是故意的，也不构成出售的要约，也不构成要订阅或购买或邀请购买或订阅任何证券或任何司法管辖区的任何投票或批准的邀请的要约，也不得无论是否违反适用法律，任何司法管辖区的证券出售，发行或转让。与拟议的交易有关，Moeritor将向SEC提交相关材料，包括附表14A的代理声明（“代理声明”）。此版本不能替代代理声明或Moeritor可以向SEC提交的任何其他文件，也不代替与拟议交易有关的股东或发送给其股东。在做出任何投票决定之前，敦促Meritor的股东阅读所有相关文件或向SEC提交的所有相关文件，包括代理声明，因为它们将在可用时，因为它们将包含有关拟议交易的重要信息。投资者和安全持有人将能够在SEC的网站www.sec.gov或访问Meritor的投资者关系网站https://investors.meritor.com/中免费获得（如果有的话）。

招标的参与者

在拟议的交易方面，官方及其董事和执行官可能被视为从商人普通股持有人那里征求代理人的参与者。Information about the directors and executive officers of Meritor and their ownership of Meritor’s common stock is set forth in the definitive proxy statement for Meritor’s 2022 Annual Meeting of Shareholders, which was filed with the SEC on December 17, 2021, or its Annual Report on Form 10-K for the year ended October 3, 2021, and in other documents filed by Meritor with the SEC. Other information regarding the participants in the proxy solicitation and a description of their direct and indirect interests, by security holdings or otherwise, will be contained in the Proxy Statement and other relevant materials to be filed with the SEC in respect of the proposed transaction when they become available.