Shiloh Industries (NASDAQ:SHLO) comments on reorganization of MTD Holdings's ownership in Shiloh Industries.
Due to internal reorganization at MTD Holdings, ~7.3M shares representing ~31% stake in SHLO held by MTD, will now be indirectly held by Oak Tree Holdings, an affiliate of MTD Holdings
“MTD has held a strategic investment in Shiloh since 1998 and I am pleased that this relationship will continue under the new Oak Tree structure,” said Ramzi Hermiz, President & CEO
(SHLO) is down ~5.2% in pre-market
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