Westport Innovations Inc (WPRT) - NASDAQ
  • Mon, May 16, 10:54 AM
    • Fuel Systems Solutions (FSYS +2%) co-founder Pier Antonio Costamagna issues a statement on the company's upcoming merger with Wesport Innovations (WPRT +0.5%). The snippets below tell you pretty clearly which way Costamagna is voting with his 8.7% stake.
    • "It is stunning to me the FSS Board continues to move ahead with this merger in light of the consistent and alarming state of Westport."
    • "FSS shareholders are receiving no premium at the current implied offer, which only continues to decline."
    • "FSS will be a significant contributor but under the Amended Merger Agreement will receive an inadequate stake in the combined company."
    • Full statement
    • Now read Fuel Systems Solutions Shareholders Must Reject The Proposed Merger With Westport Innovations
    | Mon, May 16, 10:54 AM | 12 Comments
  • Tue, May 10, 8:41 AM
    • Pier Antonio Costamagna, a co-founder of Fuel Systems Solutions (NASDAQ:FSYS), will be voting against the company's proposed merger with Westport (NASDAQ:WPRT).
    • Reasons: 1) The Amended Merger Agreement does not reflect a fair value for FSS shareholders. 2)The Cartesian Financing clearly strangles the future of the combined firm. 3) FSS' split board vote and extraordinary director actions demonstrate a clear concern over future value of the combined business.
    • Costamagna has sole voting power over 1,576,043 shares of FSS common stock, representing an approximately 8.7% stake.
    | Tue, May 10, 8:41 AM | 8 Comments
  • Sep. 1, 2015, 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.
    | Sep. 1, 2015, 10:02 AM | 5 Comments
  • Jun. 28, 2013, 12:08 PM

    Shares of Westport Innovations (WPRT -1.6%) reverse course to trade lower on a bit of profit taking after a solid two-day run higher. Earlier this morning, the company announced it's acquired Clean Energy Fuels (CLNE) subsidiaries BAF Technologies and ServoTech Engineering for $25M in stock. Both companies also announced a $5M joint marketing and sales program.

    | Jun. 28, 2013, 12:08 PM
  • Feb. 15, 2013, 3:48 PM

    This morning's spike in shares of Westport Innovations (WPRT +7.6%) on takeover speculation gains momentum into the close. Chatter centers around potential interest from Cummins (CMI +0.3%), already involved in a JV that accounts for much of WPRT's medium-term profits.

    | Feb. 15, 2013, 3:48 PM | 17 Comments
  • Mar. 6, 2012, 6:26 PM

    Westport Innovations (WPRT) acquires most of the assets from Advanced Engine Components Limited, an Australian auto-parts manufacturer specializing in patented electronic fuel injection systems, for AUD$1.45M ($1.6M) in cash and assumed liabilities. Shares -0.7% AH.

    | Mar. 6, 2012, 6:26 PM
Company Description
Westport Fuel Systems, Inc. engineers, manufactures and supplies alternative fuel systems and components. It offers brands for transportation and industrial applications. The company was founded on June 1, 2016 and is headquartered in Vancouver, Canada.
Industry: Pollution & Treatment Controls
Country: Canada