The Shyft Group Inc., a Michigan-based company, has announced an update regarding its merger with Aebi Schmidt Holding AG, a Swiss company. The merger agreement, initially disclosed on December 16, 2024, involves the merger of Badger Merger Sub, Inc., a subsidiary of Aebi Schmidt, with Shyft. Upon completion, Shyft will become a wholly-owned subsidiary of Aebi Schmidt. As of now, two legal complaints have been filed by Shyft shareholders in New York, alleging that the merger's proxy statement contained material misrepresentations. These complaints seek to halt the merger, though the ultimate outcome remains uncertain. Shyft has scheduled a special shareholder meeting for June 17, 2025, to vote on the merger.
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