This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Meritor Announces Extension Of The Early Tender Date With Respect To Its Cash Tender Offer And Consent Solicitation For Any And All Of Its 8-1/8% Notes Due 2015

TROY, Mich., May 20, 2013 /PRNewswire-FirstCall/ -- Meritor, Inc. (NYSE: MTOR) announced today that it has extended the Early Tender Date with respect to its previously announced cash tender offer and consent solicitation (the "Offer and Consent Solicitation") for any and all of its 8-1/8% Notes due 2015 (CUSIP No. 043353 AC5) (the "Notes") from 5:00 p.m., New York City time, on May 17, 2013 to 5:00 p.m., New York City time, on May 23, 2013.  Meritor is not extending the withdrawal date with respect to the Offer and Consent Solicitation, which occurred at 5:00 p.m. on May 17, 2013 (the "Withdrawal Date").  Accordingly, previously tendered Notes and Notes tendered after the Withdrawal Date and prior to the expiration of the Offer and Consent Solicitation may not be withdrawn.  The expiration date of the Offer and Consent Solicitation remains unchanged and the Offer and Consent Solicitation is scheduled to expire at 12:01 a.m., New York City time, on June 5, 2013, unless extended.

As of 5:00 p.m., New York City time, on May 17, 2013, holders of $165,218,000 principal amount of Notes, or 65.8% of the outstanding principal amount of Notes, had tendered and not withdrawn and submitted and not revoked their consents (the "Consents") pursuant to the Offer and Consent Solicitation.

Based on the Consents received, Meritor and the trustee under the indenture governing the Notes will execute a supplemental indenture to effect the proposed amendments to the indenture governing the Notes, which will eliminate substantially all of the restrictive covenants, certain events of default and related provisions contained in the indenture.  The amendments set forth in the supplemental indenture will not become operative until Meritor has accepted for purchase a majority in aggregate principal amount of such Notes.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,102.38 -272.38 -1.66%
S&P 500 1,921.22 -29.91 -1.53%
NASDAQ 4,683.9190 -49.5780 -1.05%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs