UQM Receives Approval for Danfoss Merger

The merger has received approval from the Committee on Foreign Investment in the United States.

UQM Technologies Inc., a developer of alternative energy technologies, announces that by letter dated July 25, 2019, the company has received notice from the Committee on Foreign Investment in the United States (CFIUS) stating that CFIUS has cleared the previously announced merger between the company and a wholly owned subsidiary of Danfoss Power Solutions (U.S.) Company (Danfoss).

In accordance with the Merger Agreement, the companies have agreed that the closing will take place on July 31, 2019. The process for Danfoss to purchase the shares of common stock from the shareholders for $1.71 per share will begin immediately thereafter. 

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