USA - Alternative energy technologies, UQM Technologies Inc of Longmont, Colorado, USA has announced the company’s management has been informed by the Committee on Foreign Investment in the United States (CFIUS) there is currently no reason why the proposed acquisition of the company by Danfoss Power Solutions (US) Company, should not proceed. The CFIUS was brought in to review the proposed transaction because Danfoss Power Solutions (US) Company of ‎Loves Park, Illinois is a wholly owned subsidiary of Danish engineering giant, Danfoss A/S of Nordborg. The merger anticipates that UQM will become part of the Danfoss Power Solutions segment.

In January 2019, UQM announced it had entered into a definitive merger agreement with the Danfoss Power Solutions (US) Company, stating Danfoss would acquire all outstanding common shares of UQM for USD1.71 per share (a premium of approximately 52.5% over UQM’s closing share price on January 18, 2019 and a 71.4% premium to its weighted average trading price over the trailing 60 days) in an all-cash transaction valued at approximately USD100m. The merger agreement was unanimously agreed to by the Boards of Directors of both UQM and Danfoss.