Titan International Inc. has taken the next step in its goal to purchase up to all of the outstanding ordinary shares of Titan Europe Plc.
The company is preparing to file interim data for both Titan International and Titan Europe through June 30, 2008, in a final proxy. This information should be available at the end of July 2008.
After that, the Titan Europe information "must be reconciled
with United States Generally Accepted Accounting Principles (GAAP)," according to Titan.
If the information is obtained by the end of July, Titan "anticipates it will be able to file a final proxy with the Securities and Exchange Commission (SEC) by the end of August."
Titan announced its intention to purchase Titan Europe's shares in April when it filed a preliminary proxy with the SEC (see "Titan International files preliminary proxy statement," April 14, 2008).
Titan will hold a special stockholders meeting 30 days after the filing of the final proxy to vote on the issuance of up to 9,000,000 shares of Titan International Inc. common stock.
For more information, visit www.titan-intl.com.