Gentherm Shareholders Overwhelmingly Approve Modine Merger, Closing Set for October 1
THRM sits 43% above its 52-week low of $27 on light trading volume (0.1× avg).
Summary
Gentherm shareholders voted overwhelmingly to approve the combination with Modine's Performance Technologies business, with 99% of votes cast in favor of the share issuance and 94% of outstanding shares backing the charter amendment. All required regulatory approvals are in hand, including an IRS Private Letter Ruling, clearing the path for an expected October 1, 2026 closing. This removes the final major uncertainty around the Reverse Morris Trust transaction, which will issue roughly 20.8 million shares to Modine shareholders. The deal transforms Gentherm into a higher-growth, higher-margin thermal and precision flow management business. Final exchange ratio remains subject to adjustment, but the vote and regulatory clearances make completion highly likely.
At the time of this announcement, THRM was trading at $38.50 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $27.00 to $48.35. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.