Modine completes spin-off, set to become Modexus Solutions after name change
Modine completes the spin-off of Performance Technologies and merges SpinCo with Gentherm in a Reverse Morris Trust. Modine receives about $156 million cash to repay debt, and shareholders will own roughly 43.6% of the new combined entity. A vote on changing Modine’s name to Modexus Solutions is expected within 3 months.
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