Auto Electronics

Lear-AREP terminate merger agreement

Lear Corporation stockholders at the firm’s annual meeting July 16 declined to approve a merger agreement with American Real Estate Partners despite an increase from $36 to $37.25 per-share in AREP’s offer price for Lear shares.

According to the merger agreement, AREP will receive a $12.5 million cash payment and 335,570 shares of Lear common stock since the deal was rejected.

Hide comments

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish