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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Hydrogenics Corporation New | NASDAQ:HYGS | NASDAQ | Common Stock |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 15.00 | 14.95 | 15.02 | 0 | 01:00:00 |
From Jun 2019 to Jun 2024
By Michael Dabaie
Cummins Inc. (CMI) said it would acquire all the shares of Hydrogenics Corp. (HYGS, HYG.T) for $15 a share in cash, other than shares already owned by The Hydrogen Co., for an enterprise value of about $290 million.
As a part of the deal, The Hydrogen Company, a wholly-owned subsidiary of L'Air Liquide S.A., will maintain its ownership in Hydrogenics.
L'Air Liquide is part of Air Liquide S.A. (AI.FR). Air Liquide holds an 18.6% ownership stake in Hydrogenics as of March 25 and is its largest equity shareholder, according to FactSet.
The deal is expected to close in the third quarter of 2019, Cummins said.
Toronto-listed shares of fuel cell systems provider Hydrogenics were down 4.7%. Cummins shares were up 0.5%.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
June 28, 2019 11:14 ET (15:14 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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