ASV Holdings, Inc. (“ASV” or the “Company”) (NASDAQ: ASV) is a leading provider of rubber-tracked compact track loaders. They also provide wheeled skid steer loaders in the compact construction equipment market. Recently, the company announced that at a special meeting of stockholders held earlier today, its stockholders voted to adopt the merger agreement pursuant to which ASV will be acquired by Yanmar America Corporation. This is in an all-cash transaction, which was first announced on June 27, 2019.
Stockholdes voted 7,998,119 shares in favor of the proposal to adopt the merger agreement. This represented approximately 80.7% of the outstanding shares of ASV’s common stock entitled to vote at the special meeting. It also represented approximately 99.9% of the shares voted at the special meeting. ASV will file the final voting results with the Securities and Exchange Commission on a Current Report on Form 8-K.
Under the terms of the merger agreement, each share of ASV common stock will be converted into the right to receive $7.05 in cash, without interest. There is an expectation that the transaction will close on September 11, 2019. This is subject to customary closing conditions. Upon the closing of the transaction, they will de-list ASV common stock from the Nasdaq Capital Market.
About ASV
ASV Holdings Inc. is a Yanmar Compact Equipment company. The company designs and also manufactures a full line of compact track and skid-steer loaders. The machines are primarily for the construction, landscaping and forestry markets. Known as the creators of America’s original compact track loader, ASV has a strong belief that no matter where customers are working, they should be able to complete the job both quickly and with ease.
ASV builds its machines with groundbreaking features. This allows customers to do more work in more places with maximum power, performance, serviceability and comfort. This is possible through innovative design. Combine this with ASV’s patented Posi-Track undercarriage technology that provides exceptional traction on either soft, wet, slippery, rough or hilly terrain. Posi-Track is a registered trademark of ASV Holdings, Inc. For more information about ASV Holdings Inc, either call 1-800-205-9913 or email [email protected]. You can also visit www.asvi.com or view them on Facebook and YouTube.
About Yanmar
With beginnings in Osaka, Japan, in 1912, Yanmar was the first to succeed in making a compact diesel engine of a practical size in 1933. Then, with industrial diesel engines as the cornerstone of its enterprise, Yanmar has continued to expand its product range, services, and expertise to deliver total solutions as an industrial equipment manufacturer. As a provider of small and large engines, agricultural machinery and facilities, construction equipment, energy systems, marine equipment, machine tools, and components, Yanmar’s global business operations span seven domains.
On land, at sea, and in the city, Yanmar’s mission of “providing sustainable solutions focused on the challenges customers face. These challenges are in both food production and harnessing power, thereby enriching people’s lives for all our tomorrows” is a testament to Yanmar’s determination to provide us with “A Sustainable Future.”
For more details, please visit the official website of Yanmar Co., Ltd at www.yanmar.com
