8:01 am Fuel Systems Solutions announces exchange ratio for merger with Westport (WPRT); Fuel Systems stockholders will receive 2.4755 common shares of Westport per Fuel Systems common share upon completion of the merger (FSYS) :
Fuel Systems Board of Directors Recommends that Fuel Systems stockholders vote for the merger with Westport at the Special Meeting Scheduled for May 31, 2016.
If the Merger is completed pursuant to the amended merger agreement, each share of common stock of Fuel Systems outstanding immediately prior to the effective time of the Merger will be cancelled and automatically converted into the right to receive a number of Westport common shares equal to the exchange ratio. The value of any fractional interests of Westport common shares to which a holder of Fuel Systems common stock would otherwise be entitled will be paid in cash as provided in the amended merger agreement. Under the amended merger agreement, the exchange ratio was calculated based on the volume weighted average price of Westport common shares on the Nasdaq Stock Market, as reported by Bloomberg, for the ten consecutive trading days ended on and including May 24, 2016 (the trading day five business days prior to June 1, the anticipated closing date of the Merger).
Poor guy will have to show up and do something. How dare they. Leave him alone and let him sail on one of his yachts, it's June you know. Great sailing weather.
I think it's atrocious that Condella has been making that huge salary for so long despite destroying shareholder value.
Hey Board, how long does it take you to realize complete failure and incompetency?
I wish I were Harshman. Look how rich I would be for doing nothing. What a cherished life he leads ripping off shareholders..............