Gentherm shareholders clear a major hurdle for the Modine combination
Gentherm ($THRM) shareholders approved the proposals needed for its planned combination with Modine’s ($MOD) Performance Technologies business. Approximately 99% of votes cast supported the share issuance, while the related charter amendment received support from about 94% of outstanding shares. The vote moves the transaction closer to completion but does not itself close the deal. The companies said the required regulatory approvals and an IRS private-letter ruling had already been obtained. Re
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