UQM Technologies Announces CFIUS Approval of Merger with Danfoss
UQM TECHNOLOGIES (UQM)
NASDAQ:AMEX Investor Relations:
uqm.com/investors/default.aspx
Company Research
Source: Business Wire
LONGMONT, Colo.--(BUSINESS WIRE)--UQM Technologies, Inc. (NYSE American: UQM), a developer of alternative energy technologies, today announced that by letter dated July 25, 2019, the Company has received notice from the Committee on Foreign Investment in the United States (“CFIUS”) stating that CFIUS has cleared the previously announced merger between the Company and a wholly owned subsidiary of Danfoss Power Solutions (US) Company (“Danfoss”). In accordance with the Merger Agreement, the companies have agreed that the closing will take place on July 31, 2019. The process for Danfoss to purchase the shares of common stock from the shareholders for $1.71 per share will begin immediately thereafter.About UQMUQM Technologies is a developer and manufacturer of power-dense, high-efficiency electric motors, generators, power electronic controllers and fuel cell compressors for the commercial truck, bus, automotive, marine and industrial markets. A major emphasis for UQM is developing pr
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