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Fuel Systems Solutions, Inc. (FSYS)

  • Tue, Sep. 1, 10:02 AM
    • Fuel Systems Solutions (NASDAQ:FSYS) agrees to be acquired by Westport Innovations (NASDAQ:WPRT) in an all-stock deal valued at ~$7.54/share; trading halted.
    • The companies say the deal will create "a premier alternative fuel vehicle and engine company," resulting in a combined equity value of $351M based on Aug. 31 closing prices and combined annual revenues of $380M-$405M projected for 2015.
    • The companies cite significant potential for improved profitability even in current volatile market conditions, including untapped savings and merger synergies in excess of $30M/year starting in 2016 and fully realized by 2018.
    • Shares are scheduled to resume trading at 10:20.
    | Tue, Sep. 1, 10:02 AM | 5 Comments
Company Description
Fuel Systems Solutions Inc manufactures & designs alternative fuel components & systems for use in transportation, industrial & power generation industries which control the pressure & flow of gaseous alternative fuels used in internal combustion engines.
Industry: Auto Parts
Country: United States