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

Reuters12-16

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

SHYFT: CO, AEBI SCHMIDT TO COMBINE IN ALL-STOCK MERGER
SHYFT: AT CLOSING, CO'S SHAREHOLDERS TO OWN 48% OF COMBINED CO, WITH AEBI SHAREHOLDERS OWNING 52%
SHYFT: $25 MILLION TO $30 MILLION IN EXPECTED SYNERGIES FROM DEAL BY YEAR TWO, EPS ACCRETION IN YEAR ONE
SHYFT: BAREND FRUITHOF, CEO OF AEBI, TO BE CEO OF COMBINED CO; JAMES SHARMAN OF SHYFT TO BE CHAIRMAN
SHYFT: COMBINED CO WILL TRADE ON NASDAQ, WITH HEADQUARTERS IN SWITZERLAND

Source text: [ID:]

Further company coverage: SHYF.O

((Reuters.Briefs@thomsonreuters.com))

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