Danish firm to acquire Longmont-based UQM Technologies
LONGMONT — UQM Technologies Inc. (NYSE: UQM), a developer of alternative-energy technologies, has entered into a definitive merger agreement with the Danfoss Power Solutions (US) Co., a wholly owned subsidiary of Denmark-based Danfoss A/S.
Danfoss will acquire all outstanding common shares of UQM for $1.71 per share in an all-cash transaction valued at approximately $100 million, including assumption of UQM’s debt.
Danfoss, a privately owned multinational company with reported sales of 5.8 billion euros in 2017, manufactures hydraulic systems, drives, motors, and components for the automotive, aerospace, HVAC, and energy industries. The merger anticipates that UQM…
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