BASHAM NEWS

The COFECE approved the acquisition of Meritor Inc. by Cummins Inc.

Mexico City, August 23, 2022.

 

On July 12, 2022, the Comisión Federal de Competencia Económica ("COFECE") authorized the acquisition of Meritor Inc. by Cummins Inc. a publicly traded company listed on the New York Stock Exchange and engaged in the manufacture of automobile, truck and military transportation components, a publicly traded company listed on the New York Stock Exchange and engaged in the design, manufacture and marketing of diesel engines and fuel systems.

In order to obtain COFECE's authorization, Meritor Inc. was advised by Basham, Ringe y Correa, S.C. (Mexico City). As a result, the acquisition of Meritor Inc. by Cummins Inc. for approximately US$$3.7 billion was approved.

Meritor Inc. had sales of US$3.8 billion in 2021 and has a presence in the Americas, Europe and Asia, while Cummins Inc. reported sales of US$3.5 billion in the same period and has a presence in the Americas, Europe, Asia and Africa.

Attorneys who participated:

Partner: Amilcar Peredo

Associate: León Jiménez