Dec 16 (Reuters) - U.S. specialty vehicle manufacturer

Shyft Group ( SHYF ) and Switzerland-based Aebi Schmidt will

merge in an all-stock deal, the companies said on Monday.

Shareholders of Shyft ( SHYF ) will own 48% of the combined company,

while those of Aebi Schmidt will hold the remaining 52%, the

companies said in a statement.

Financial terms of the deal were not disclosed.

The combined company is expected to have an estimated

pro-forma revenue of $1.95 billion for 2024, the companies said.

Barend Fruithof, chief of the Swiss specialty vehicle

products and services firm, will head the combined company,

while Shyft ( SHYF ) CEO John Dunn will remain with the company until the

close of the deal.

Shares of Shyft ( SHYF ) closed at $12.72 on Friday, giving the

Michigan-headquartered company a market value of about $439

million, according to data from LSEG.

The new company, which will be headquartered in Switzerland,

will trade on the NASDAQ, the companies said.