BRIEF-Shyft Says Co, Aebi Schmidt To Combine In All-Stock Merger-March 2024-www.financetom.com

BRIEF-Shyft Says Co, Aebi Schmidt To Combine In All-Stock Merger

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BRIEF-Shyft Says Co, Aebi Schmidt To Combine In All-Stock Merger

Dec 16, 2024 3:12 AM

Dec 16 (Reuters) - Shyft Group Inc ( SHYF ):

* SHYFT ( SHYF ): CO, AEBI SCHMIDT TO COMBINE IN ALL-STOCK MERGER

* SHYFT ( SHYF ): AT CLOSING, CO'S SHAREHOLDERS TO OWN 48% OF

COMBINED CO,

WITH AEBI SHAREHOLDERS OWNING 52%

* SHYFT ( SHYF ): $25 MILLION TO $30 MILLION IN EXPECTED SYNERGIES

FROM

DEAL BY YEAR TWO, EPS ACCRETION IN YEAR ONE

* SHYFT ( SHYF ): BAREND FRUITHOF, CEO OF AEBI, TO BE CEO OF COMBINED

CO;

JAMES SHARMAN OF SHYFT TO BE CHAIRMAN

* SHYFT ( SHYF ): COMBINED CO WILL TRADE ON NASDAQ, WITH HEADQUARTERS

SWITZERLAND

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