CECO Environmental and Thermon Group Holdings said shareholders of both companies approved their strategic combination in votes held May 28.
At CECO’s annual meeting, about 99.93% of votes cast were in favor of the transaction. At Thermon’s meeting, nearly 99.97% of votes cast supported the deal.
The companies said the transaction is expected to close on or around June 1, 2026.
Thermon also disclosed how its stockholders elected to receive merger consideration. Of the outstanding Thermon shares, about 41.18% elected stock consideration, 6.50% elected cash consideration, and 19.22% elected mixed consideration.
Under the proration rules, stock-electing Thermon shares will be converted into the right to receive approximately $1.48 in cash and 0.7920 of a CECO share per Thermon share. Cash-electing shares will receive $63.89 in cash per share without proration. Mixed-election shares will receive $10.00 in cash and 0.6840 of a CECO share per share.
Thermon stockholders who did not make a valid election will receive the mixed consideration. Following these announcements, the company's shares moved -3.49%, and are now trading at a price of $86.73. If you want to know more, read the company's complete 8-K report here.
