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Wabco Holdings, a leading global supplier of technologies and services that improve the safety, efficiency and connectivity of commercial vehicles, has welcomed the decision by its shareholders to approve the company’s acquisition by ZF Friedrichshafen AG.
At a special meeting of Wabco’s shareholders held in New York, holders representing 68.44 per cent of the company’s shares outstanding voted in favour of adopting the proposed merger agreement. Overall, 71.97 per cent of Wabco’s shareholders participated in the vote.
Under the agreement, ZF will acquire all outstanding shares of Wabco for $136.50 a share in an all-cash transaction for an equity value of over $7 billion.
Shares of Wabco India closed ₹6,123.95, down 0.31 per cent, on the BSE.
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