CECO Environmental and Thermon Group Holdings said stockholders 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 the election results for how its stockholders want to be paid in the merger. Based on the final tally:
- About 41.18% of Thermon’s outstanding shares elected stock consideration. Those shares will convert into the right to receive about $1.48 in cash and 0.7920 of a CECO share per Thermon share.
- About 6.50% elected cash consideration, and those shares will receive $63.89 in cash per share.
- About 19.22% elected mixed consideration, and those shares will receive $10.00 in cash plus 0.6840 of a CECO share per Thermon share.
Thermon stockholders who did not make a valid election will receive the mixed consideration.
The election results show a shift toward stock-based payment: the stock election attracted the largest elected block at 41.18%, while 19.22% chose the mixed option and 6.50% chose cash outright. As a result of these announcements, the company's shares have moved -2.93% on the market, and are now trading at a price of $69.16. If you want to know more, read the company's complete 8-K report here.
