- The Shyft Group (SHYF, Financial) will hold a special shareholders meeting on June 17, 2025, to vote on the proposed merger with Aebi Schmidt Holdings, AG.
- Shareholders of record as of May 13, 2025, will be eligible to vote at the meeting.
- The transaction, if approved, will be an all-stock merger, resulting in Shyft shareholders owning 48% of the combined entity.
The Shyft Group, Inc. (SHYF), a leader in specialty vehicle manufacturing in North America, has announced a special meeting for shareholders to consider a proposed merger with Aebi Schmidt Holdings, AG. Scheduled for June 17, 2025, the meeting will allow shareholders of record as of May 13, 2025, to vote on the merger agreement.
The merger, initially announced on December 16, 2024, is structured as an all-stock transaction. Upon completion, Shyft shareholders will receive approximately 1.04 shares of the combined company's stock for each Shyft share they hold. The merger aims to create a leading specialty vehicles company, with Shyft shareholders owning 48% and Aebi Schmidt shareholders owning 52%.
The transaction has been designed to be tax-free for Shyft shareholders and has already received unanimous approval from the boards of directors of both companies. Completion of the merger is contingent upon approval at the special meeting, SEC's declaration of the effectiveness of a related registration statement, and satisfaction of other closing conditions.
Following the merger, the new entity is expected to be named Aebi Schmidt Group, with its shares traded on Nasdaq under the ticker symbol "AEBI". The Shyft Group, employing approximately 2,900 people across various U.S. states and Mexico, reported sales of $786 million in 2024.
