Newswire

BRIEF-Sevcon signs definitive agreement to be acquired by BorgWarner

July 17 (Reuters) - Sevcon Inc-

* Sevcon signs definitive agreement to be acquired by BorgWarner

* Sevcon Inc - ‍transaction price of $22.00 per share represents a 61% premium to closing sale price of common stock of company on Friday​

* Sevcon inc - ‍sevcon board of directors has unanimously approved merger agreement and has recommended approval of merger by Sevcon's stockholders​

* Sevcon Inc - ‍transaction is not subject to a financing condition​

* Sevcon Inc - ‍total transaction value, including assumption of indebtedness, is expected to be approximately $200 million at closing of transaction​ Source text for Eikon: Further company coverage: