Cummins completed the acquisition of Meritor for $3.7bn.

Cummins, a manufacturer of diesel engines used in commercial trucks, completed the acquisition of Meritor, a manufacturer of automobile parts for commercial vehicles and industrial markets, for $3.7bn. Cummins paid $36.5 in cash per Meritor share. “The acquisition of Meritor is an important milestone for Cummins. Meritor is an industry leader, and the addition of their complementary strengths will help us address one of the most critical technology challenges of our age: developing economically viable zero carbon solutions for commercial and industrial applications. Climate change is the existential crisis of our time and this acquisition accelerates our ability to address it. Our customers need economically viable decarbonized solutions," Tom Linebarger, Cummins Chairman and CEO.