Almost a done deal
Western Star Holdings Ltd. shareholders rubberstamped the plan that would allow Freightliner LLC to acquire all of Western Star’s issued and withstanding shares.
Common shareholders voted 99.99% in favor of the $670 million sale. An affirmative vote of 75% was required.
The Kelowna, B.C.-based company has now received all regulatory shareholder approval and the finalization of the transaction remains subject to the approval of the Supreme Court of British Columbia. The deal is expected to close on Sept. 26.
Freightliner has said it plans to fold Western Star into its Sterling Trucks subsidiary, both of which will likely share the same dealership network.
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