Shareholders of Westport Innovations (TSX:WPT; Nasdaq:WPRT) are giving the thumbs up to a merger with New York-based Fuel Systems Solutions (FSS).
The clean technology engine-maker announced plans last September to acquire FSS in an all-stock deal that values the combined company at $351 million.
Westport shareholders voted in favour of the deal Friday (March 18).
The vote also included a provision the company change its name to Westport Fuel Systems.
FSS specializes in manufacturing alternate-fuel components.
Westport said last year the deal would allow it to expand from heavy-duty vehicles to light- and medium-duty vehicles.
Westport Innovations CEO David Demers will lead Westport Fuel Systems.
