Cummins Inc., which is rapidly transforming from solely a leading maker of diesel engines into electric powertrains and zero-emissions technologies, said Tuesday it will pay $3.7 billion in cash to acquire Meritor Inc., merging their distinct traditional and advanced technology components.
“The two companies are largely complementary,” Cummins CEO Tom Linebarger said on a call with analysts. “Almost everything Meritor’s been working on Cummins has not been working on and vice versa. And the two...
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