PENDLETON,
Ind., Aug. 13, 2015
/PRNewswire/ -- Remy International, Inc. (NASDAQ: REMY) today
announced that the U.S. Federal Trade Commission (FTC) has granted
early termination of the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act of 1976 (HSR Act) with respect to the
pending acquisition of Remy by BorgWarner Inc. (NYSE:
BWA).
On July 24, 2015, each of
Remy and BorgWarner filed a Pre-Merger Notification and Report Form
pursuant to the HSR Act with the Antitrust Division of the U.S.
Department of Justice and the FTC.
The early termination of the waiting period under the HSR
Act satisfies one of the conditions to the closing of the pending
acquisition. The closing of the acquisition remains subject to
other customary closing conditions, including adoption of the
merger agreement entered into among Remy, BorgWarner and Band
Merger Sub, Inc. by Remy's stockholders and the making or obtaining
of any filings, authorizations, consents or approvals regarding the
acquisition required pursuant to antitrust laws in Austria, Germany, China, Korea and Mexico and the termination or expiration of
any applicable waiting period thereunder.
About Remy International, Inc.
Founded by the Remy brothers in 1896, Remy International,
Inc. (NASDAQ: REMY) is a leading global manufacturer,
remanufacturer, and distributor of alternators, starter motors, and
electric traction motors for the automotive and commercial vehicle
industry, marketed under the Remy® and Delco Remy® brands.
The company also provides multiline products through its
subsidiaries. Headquartered in Pendleton, Indiana, with operations across
five continents and ten countries, Remy is a trusted partner to
original equipment manufacturers and aftermarket organizations
worldwide, delivering creative solutions for today's vehicle
challenges.
Additional Information and Where to Find
It
This press release may be deemed to be solicitation
material in respect of the proposed acquisition of Remy by
BorgWarner. In connection with the proposed acquisition,
Remy and Borg Warner intend to file
relevant materials with the SEC, including Remy's definitive proxy
statement on Schedule 14A, a preliminary version of which has been
filed with the SEC on August 3,
2015. STOCKHOLDERS OF REMY ARE URGED TO READ ALL RELEVANT
DOCUMENTS FILED WITH THE SEC, INCLUDING REMY'S DEFINITIVE PROXY
STATEMENT, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT
THE PROPOSED TRANSACTION. Investors and security holders
may obtain the documents free of charge at the SEC's web site,
http://www.sec.gov, or the Company's web site,
http://www.remyinc.com under "Investors - SEC Filings".
Participants in Solicitation
Remy and its directors, executive officers and other
members of management and employees may be deemed to be
participants in the solicitation of proxies from the holders of
Remy common stock in respect of the proposed transaction.
Information about the directors and executive officers of Remy is
set forth in the proxy statement for Remy's Annual Meeting of
Stockholders, which was filed with the SEC on April 30, 2015. Investors may obtain
additional information regarding the interest of such participants
by reading the proxy statement regarding the acquisition, a
preliminary version of which has been filed with the SEC on
August 3, 2015.
Media Contact: Remy
International - Shawn Pallagi
(pallagi.shawn@remyinc.com |765-778-5903)
Investor Contact: Remy
International – Al
VanDenBergh (vandenbergh.al@remyinc.com
|765-778-6871)
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SOURCE Remy International, Inc.