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NOVI, Mich. - Shareholders of The Shyft Group, Inc. (NASDAQ:SHYF), currently valued at $423 million and showing strong momentum with a 3.24% year-to-date return, have overwhelmingly approved the company’s merger with Aebi Schmidt Group, according to a press release issued today. InvestingPro analysis indicates the stock is trading above its Fair Value, with 12 key investment signals available to subscribers.
Approximately 99% of votes cast at today’s special meeting favored the transaction, representing about 81% of Shyft’s total outstanding shares. The merger is expected to close around July 1, 2025, pending satisfaction of remaining closing conditions.
Upon completion, the combined entity will operate as "Aebi Schmidt Group" and trade on NASDAQ under the ticker symbol "AEBI." Each Shyft share will be exchanged for approximately 1.04 shares of the combined company’s common stock.
"This shareholder approval is a significant step forward as we prepare to bring together two highly complementary businesses," said James Sharman, Shyft’s Board Chairman who will maintain the chairman role in the combined company.
Barend Fruithof, CEO of Aebi Schmidt and incoming CEO of the merged organization, stated, "We are establishing a differentiated, global leader in the specialty vehicles industry."
The Shyft Group, headquartered in Michigan, manufactures specialty vehicles for commercial, retail, and service markets, reporting sales of $786 million in 2024. Switzerland-based Aebi Schmidt Group provides solutions for infrastructure, environmental, and agricultural applications, with net sales exceeding 1 billion euros in 2024.
The merger represents the final milestone ahead of the anticipated July closing, according to the press release statement. Investors can access comprehensive merger analysis and future growth projections through InvestingPro’s detailed research reports.
In other recent news, The Shyft Group reported impressive first-quarter earnings for 2025, with an adjusted earnings per share (EPS) of $0.07, exceeding the anticipated loss of $0.10 per share. The company’s revenue also outperformed expectations, reaching $204.6 million compared to the projected $198.96 million, marking a 3% year-over-year increase. In a significant corporate development, The Shyft Group has entered into a merger agreement with Aebi Schmidt Holding AG, which could lead to executive changes, including the potential departure of Joshua Sherbin, the Chief Legal, Administrative, and Compliance Officer. Additionally, The Shyft Group declared a quarterly cash dividend of $0.05 per share, payable on June 16, 2025, reflecting the company’s financial health and commitment to returning value to shareholders. The merger aims to enhance Shyft’s global presence in the specialty vehicle market, with the combined entity trading under the name Abi Schmidt Group. Analysts and investors are closely monitoring these developments, as they could significantly impact the company’s future operations and leadership structure. The Shyft Group’s strategic focus on expanding its electric vehicle and service truck portfolio has contributed to its improved financial results, with the company also unveiling new vehicle models to strengthen its market position.
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