commercial truck and industrial equipment maker meritor inc mtor announced an agreement to be acquired by cummins inc cmi in a cash deal valued 37 billion including debt and acquired cash under terms of the deal cummins will pay 3650 for each meritor share outstanding which represents a 48 premium to fridays stock closing price of 2467 and the highest price the stock traded at since may 1998 meritors stock is currently halted for news while cummins stock fell 21 in premarket trading the buyout bid price implies a market capitalization for meritor of 258 billion the integration of meritors people technology and capabilities will position cummins as one of the few companies able to provide integrated powertrain solutions across combustion and electric power applications the companies said in a statement this is the right time to pursue this combination as demand for decarbonized solutions accelerates shares of meritor have dropped 147 over the past three months and cummins stock has lost 44 while the sp 500 spx has declined 71