Remy International stockholders approve acquisition by BorgWarner


Remy International announced that at a special stockholders’ meeting its stockholders approved the previously announced agreement and plan of merger that provides for the acquisition of Remy by BorgWarner).

John H. Weber, chairman of the board of directors of Remy International, Inc., commented, “We’re pleased that our stockholders have shown overwhelming support for our plan to join BorgWarner. This transaction provides substantial value to our stockholders and will benefit our employees, business partners and customers around the globe.”

Completion of the acquisition remains subject to the satisfaction or waiver of customary closing conditions, including receipt of approvals required pursuant to antitrust laws in China and Korea and the termination or expiration of any applicable waiting period thereunder in such jurisdictions.

As previously announced by Remy, on August 12, 2015, the U.S. Federal Trade Commission granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to the acquisition.

Additionally, German antitrust approval for the acquisition was received on September 7, 2015, and Austrian and Mexican antitrust approvals for the acquisition were received on September 18, 2015.

Subject to the satisfaction of the closing conditions, the transaction is currently expected to be completed in the fourth quarter of 2015.