Alstom shareholders approve Siemens Mobility merger
ALSTOM: All proposed resolutions related to the proposed merger of Alstom and Siemens Mobility were approved with majorities of more than 95% at Alstom’s special and combined shareholders’ meetings held in Paris on July 17.
The transaction is expected to be completed in the first half of 2019, subject to regulatory approval; the European Commission has launched an in-depth review under the EU merger regulation.
As part of the combination, Alstom shareholders at the close of the day preceding the closing date would receive two exceptional distributions: a control premium (Distribution A) of €4 per share, and an exceptional distribution (Distribution B) of up to €4 per share.
The shareholders approved the distribution of a dividend of €0·35 per share, up 40% compared to last year; the appointment of directors; the future board of the combined Siemens-Alstom; and the removal of double voting rights to revert to a ‘one share, one vote’ principle.