 Commercial truck and industrial equipment maker Meritor Inc. MTOR, -2.37 announced an agreement to be acquired by Cummins Inc. CMI, -0.29 in a cash deal valued 3.7 billion, including debt and acquired cash. Under terms of the deal, Cummins will pay 36.50 for each Meritor share outstanding, which represents a 48 premium to Fridays stock closing price of 24.67, and the highest price the stock traded at since May 1998. 