Uni-Select has also entered into a transition agreement with the acquirer to ensure an orderly and smooth transition for team members, customers and suppliers.
"Safety is the Department's top priority and these grants will further assist state and local officials in their efforts to prevent commercial motor vehicle crashes," said U.S. Transportation Secretary Elaine L. Chao.
A scholarship has been established in BBB Industries Founder Don Bigler's name, to be awarded annually to a deserving student pursuing a career in the aftermarket.
Under the terms of the agreement, MAM stockholders will receive $12.12 per share in cash for each common share of MAM, which represents a 14% premium over the closing price on Aug. 30 and a 38% premium over the prior 90-day average of $8.80 per share.
The company plans to reallocate capital toward investment in the business and net debt reduction.
The event will take place at the stunning Spanish Trail Country Club on Monday, Nov. 4 with a "shotgun" start at 8:30 a.m. All proceeds help fund the Foundation's work as the industry’s only charitable organization dedicated to helping aftermarket industry professionals at their most critical time of need.
The proceeds will help expand SEMA’s High School Vehicle Build Program to include 10 schools next year.
Auto Value and Bumper to Bumper annually select one scholarship recipient from a warehouse distributor and another from a service dealer. Each scholarship is worth more than $6,000 and covers all course fees, books and more.
“It was hard to pick two,” Megan Meyer said, “but John and Beau stood out from the others because of their passion to learn and contribute to our team.”
Net income attributable to Magna International Inc. was $452 million for the second quarter of 2019 compared to $626 million in the second quarter of 2018.
