ASV Holdings Inc, a leading provider of rubber-tracked compact track loaders and wheeled skid steer loaders in the compact construction equipment market, announced that at a special meeting of stockholders held earlier today, ASV’s stockholders voted to adopt the merger agreement whereby ASV will be acquired by Yanmar America Corp., in an all-cash transaction first announced June 27. Nearly 8 million shares were voted in favor of the proposal to adopt the merger agreement, representing approximately 80.7 percent of the outstanding shares of ASV’s common stock entitled to vote at the special meeting, and approximately 99.9 percent 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. The transaction is expected to close Sept. 11, subject to customary closing conditions. Upon the closing of the transaction, ASV common stock will be de-listed from the Nasdaq Capital Market.