Mergers & Acquisitions ·
Modine Manufacturing Company announced updates to its Reverse Morris Trust transaction with Gentherm Incorporated…
MODModine Manufacturing Co
Modine Manufacturing Company announced updates to its Reverse Morris Trust transaction with Gentherm Incorporated regarding the spin-off of Modine's Performance Technologies business. The exchange ratio for converting SpinCo shares into Gentherm common stock will increase, resulting in approximately 2,902,466 additional Gentherm shares issued. To offset this value shift, the cash distribution from SpinCo to Modine is reduced from $210 million to $159 million, and Gentherm declared a special cash dividend of approximately $1.90 per share for its shareholders. The record date for the SpinCo distribution is September 28, 2026, with the transaction expected to close on October 1, 2026. Modine Manufacturing Company designs and manufactures thermal management systems for mission-critical applications in automotive, commercial, and industrial sectors.