Westport and Fuel Systems Clear Key Milestone in Antitrust Requirements for Proposed Merger
VANCOUVER - Westport Innovations Inc. (TSX:WPT / Nasdaq:WPRT) ("Westport"), engineering the world's most advanced natural gas engines and vehicles, announced today that the proposed merger with Fuel Systems Solutions, Inc. ("Fuel Systems") has satisfied the requirements of the Hart-Scott-Rodino Antitrust Improvements Act of 1976. There is no further antitrust clearance required to close the transaction.
As announced on September 1, 2015, Westport and Fuel Systems have entered into an Agreement and Plan of Merger (the "Merger Agreement") to combine their businesses through merger. Pursuant to the Merger Agreement, Whitehorse Merger Sub Inc., a newly formed, wholly owned subsidiary of Westport, will merge with and into Fuel Systems, with Fuel Systems surviving the merger as a wholly owned subsidiary of Westport. As consideration for the merger, stockholders of Fuel Systems will receive a fixed ratio of common shares of Westport.
The Westport common shares to be issued pursuant to the Merger Agreement will be issued pursuant to a registration statement on Form F-4, which has been filed with the SEC. In the Form F-4, Westport is providing, among others, certain forward-looking financial information and financial outlook information which is subject to the risks, qualifications, assumptions and other cautionary language set out in such Form F-4. Readers are encouraged to review such cautionary language carefully.
About Westport
Westport engineers the world's most advanced natural gas engines and vehicles. More than that, we are fundamentally changing the way the world travels the roads, rails and seas. We work with original equipment manufacturers (OEMs) worldwide from design through to production, creating products to meet the growing demand for vehicle technology that will reduce both emissions and fuel costs. To learn more about our business, visit westport.com.
SOURCE Westport Innovations Inc.
CONTACT: Investor Inquiries: Darren Seed, Vice President, Capital Markets Communications, Westport, T: +1 604-718-2046, invest@westport.com; Media Inquiries: Heather Merry, Communications, T: +1 604-718-2011, media@westport.com
Web Site: http://www.westport.com Â
