ArvinMeritor (ARM) To Offer 15M Shares

ArvinMeritor, Inc. (NYSE: ARM) announced that it is offering, subject to market and other conditions, 15,000,000 shares of its common stock, par value $1 per share, in an underwritten registered public offering. In connection with this offering, ArvinMeritor intends to grant the underwriters an over-allotment option to purchase up to 2,250,000 additional shares of its common stock.

ArvinMeritor intends to use the net proceeds from the offering to repay amounts outstanding under its revolving secured credit facility and its U.S. accounts receivable securitization program and for general corporate purposes.

J.P. Morgan Securities Inc., Citi and UBS Investment Bank are acting as joint book-running managers for the offering.