Aebi Schmidt to merge with Shyft.

Aebi Schmidt, a Swiss company manufacturing agricultural machinery, heavy and municipal equipment, agreed to merge with Shyft, an American automobile design company. Under the terms of the agreement, each outstanding share of Shyft common stock will be exchanged for 1.04 shares of the combined company's common stock. "Combining with Aebi Schmidt is a powerful next step in Shyft's strategy as we leverage the strengths of both companies' industry leading brands, innovative products, extensive customer relationships, and manufacturing excellence. This transaction creates a more resilient company with meaningful growth opportunities in the commercial truck space and infrastructure related solutions. I am confident Shyft's talented team members will thrive within this newly combined platform and that this transaction is the best path forward to unlocking value for our shareholders," John Dunn, Shyft President and CEO.