Meritor, Inc. announced that on August 3, 2022, the Company completed the transactions contemplated by the Agreement and Plan of Merger, dated as of February 21, 2022 (the Merger Agreement), by and among the Company, Cummins Inc., an Indiana corporation ( Parent), Rose NewCo Inc., an Indiana corporation and a wholly owned subsidiary of Parent ( Merger Sub). At the closing, Merger Sub merged with and into the Company (the Merger), with the Company surviving the Merger as the surviving corporation and as a wholly owned subsidiary of Parent. In accordance with the terms of the Merger Agreement, all directors of the Company prior to the Effective Time ceased to be directors of the Company effective as of the Effective Time.
No director resigned as a result of any disagreement with the Company on any matter relating to the Company's operations, policies or practices. In connection with the consummation of the Merger and in accordance with the terms of the Merger Agreement, the directors of Merger Sub immediately prior to the Effective Time became the directors of the Company, effective as of the Effective Time.