FORT WAYNE, Ind. (WOWO): A $350 million dollar acquisition of Fort Wayne's WaterFurnace Renewable Energy has gotten the go-ahead from the companies shareholders.
The deal first announced in June, has heat pump manufacturer NIBE buying 100 percent of Water Furnace's stock on the Toronto Stock Exchange. NIBE leaders say the purchase solidifies their position as a world-wide leader in sustainable energy solutions.
The company is expected to seek approval from Canadian officials later this week.
According to a press release, Water Furnace would operate with current leadership, independently of the Swedish parent company.