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Meritor, Inc.
announced today that it has extended the Early Tender Date with respect to its
previously announced cash tender offer and consent solicitation (the "Offer
and Consent Solicitation") for any and all of its 8-1/8% Notes due 2015 (CUSIP
No. 043353 AC5) (the "Notes") from 5:00 p.m., New York City time, on May 17,
2013 to 5:00 p.m., New York City time, on May 23, 2013. Meritor is not
extending the withdrawal date with respect to the Offer and Consent
Solicitation, which occurred at 5:00 p.m. on May 17, 2013 (the "Withdrawal
Date"). Accordingly, previously tendered Notes and Notes tendered after the
Withdrawal Date and prior to the expiration of the Offer and Consent
Solicitation may not be withdrawn. The expiration date of the Offer and
Consent Solicitation remains unchanged and the Offer and Consent Solicitation
is scheduled to expire at 12:01 a.m., New York City time, on June 5, 2013,
unless extended.
As of 5:00 p.m., New York City time, on May 17, 2013, holders of $165,218,000
principal amount of Notes, or 65.8% of the outstanding principal amount of
Notes, had tendered and not withdrawn and submitted and not revoked their
consents (the "Consents") pursuant to the Offer and Consent Solicitation.
Based on the Consents received, Meritor and the trustee under the indenture
governing the Notes will execute a supplemental indenture to effect the
proposed amendments to the indenture governing the Notes, which will eliminate
substantially all of the restrictive covenants, certain events of default and
related provisions contained in the indenture. The amendments set forth in
the supplemental indenture will not become operative until Meritor has
accepted for purchase a majority in aggregate principal amount of such Notes.
Citigroup Global Markets Inc. is acting as the dealer manager and solicitation
agent for the Offer and Consent Solicitation. Global Bondholder Services
Corporation is acting as both the depositary and the information agent.
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