Commercial wheel and wheel-end supplier Accuride Corp. reported that its shareholders approved the proposed merger with Crestview Partners, a New York-based private equity firm.
The transaction, which takes the company private, is expected to be complete Nov. 18, the company said.
Under the terms of the agreement, except as otherwise provided, its shareholders will receive $2.58 in cash for each share of common stock they own, Evansville, Indiana-based Accuride said.
After the transaction closes, Accuride will remain an independent global company with continuity of leadership, business units and worldwide operations, officials said when the planned merger was announced in September.
Accuride will continue to operate under its current brand name and remain headquartered the United States, with additional operations in Canada, Mexico and Italy. CEO Rick Dauch and the other members of the leadership team will continue to lead the business after the transaction closes, the company said.