PENDLETON, Ind., Oct. 14, 2015 /PRNewswire/ -- Remy
International, Inc. (NASDAQ: REMY) announced today that on
October 13, 2015, the Korea Fair
Trade Commission granted approval of the proposed acquisition (the
"Transaction") of Remy by BorgWarner Inc. (NYSE: BWA).
As previously announced by Remy, on September 22, 2015, Remy's stockholders adopted
the Agreement and Plan of Merger, dated as of July 12, 2015 (the "Merger Agreement"), by and
among Remy, BorgWarner and Band Merger Sub, Inc. at a special
meeting of Remy's stockholders called for such purpose.
The closing of the Transaction remains subject to the
satisfaction or waiver of customary conditions to closing set forth
in the Merger Agreement, which include:
- the receipt of any approval required under Chinese antitrust
law and the termination or expiration of any applicable waiting
period thereunder;
- the accuracy of each party's representations and warranties
(subject to customary materiality qualifiers);
- each party's compliance with its agreements and covenants
contained in the Merger Agreement; and
- the absence of any law, ordinance, rule, regulation, order,
judgment or decree being in effect that restrains or enjoins, or
otherwise prohibits or makes illegal, the consummation of the
Transaction.
About Remy International, Inc.
Founded by the Remy brothers in 1896, Remy International, Inc.
(NASDAQ: REMY) is a leading global manufacturer, remanufacturer,
and distributor of alternators, starter motors, and electric
traction motors for the automotive and commercial vehicle industry,
marketed under the Remy® and Delco Remy® brands. The company also
provides multiline products through its subsidiaries. Headquartered
in Pendleton, Indiana, with
operations across five continents and ten countries, Remy is a
trusted partner to original equipment manufacturers and aftermarket
organizations worldwide, delivering creative solutions for today's
vehicle challenges.
Media Contact: Remy
International - Shawn Pallagi
(pallagi.shawn@remyinc.com |765-778-5903)
Investor Contact: Remy
International - Al
VanDenBergh
(vandenbergh.al@remyinc.com |765-778-6871)
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SOURCE Remy International, Inc.