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Solutia Completes Tender Offer for Shares of Southwall Technologies

Post Time:Nov 29,2011Classify:Industry NewsView:210

 


Officials at Solutia Inc. of St. Louis and its wholly-owned subsidiary, Backbone Acquisition Sub Inc., which was formed for the purpose of

 

The tendered shares represent approximately 95.7 percent of the outstanding shares of common stock of Southwall.

 

Backbone Acquisition intends to effect a "short-form" merger under Delaware law as promptly as practicable. Following completion of the merger, Southwall will become a wholly-owned subsidiary of Solutia. Upon completion of the merger, all remaining Southwall stockholders who did not tender their shares in the tender offer (other than shares owned by Backbone Acquisition, Solutia, Southwall and their respective subsidiaries) will have the right to receive the same $13.60 per share in cash, without interest and less any applicable withholding taxes, paid in the tender offer. Following the merger, the common stock of Southwall will cease to be traded on the Nasdaq Capital Market.

 

Source: http://www.usgnn.comAuthor: shangyi

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