Featherlite Inc., a builder of custom-made and standard model specialty trailers and luxury motorcoaches, advised its shareholders to vote for the proposed merger with one of the subsidiaries of Universal Trailer Holdings at its special meeting of shareholders to be held on Oct. 11.
Featherlite said it filed a definitive proxy statement with the Securities and Exchange Commission (SEC), relating to the merger.
Cresco, Iowa-based Featherlite disclosed that Universal Trailer has succeeded in extending an excellent value for its shareholders and great new opportunities for the employees and dealers. Seeking shareholders support, the company said its board of directors and special committee is in favor of the merger.
The company revealed that shareholders of record as of Sept. 14 have the right to vote at the special meeting. The voters can either by person or by proxy perform their voting. However, the non-votes would be counted against approval of the merger.
Earlier, on July 27, the company had said it signed a definitive agreement to merge with a subsidiary of Universal Trailer.