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[November 2007]
Oglebay Norton Shareholders Back Merger
Oglebay Norton Co (Cleveland, OH, USA) announced on 9 November 2007 that Oglebay Norton shareholders had voted overwhelmingly to approvethe company’s merger with Carmeuse North America, a wholly owned subsidiary of Carmeuse Group, at a special meeting of shareholders.
“We are extremely pleased with the outcome of today’s vote,” said Michael Lundin, President and CEO of Oglebay. “On behalf of Oglebay Norton’s Board of Directors and management team, I want to thank our shareholders, customers and dedicated employees for their support throughout this process. We look forward to completing the merger and we anticipate a smooth integration of the two companies.”
In accordance with the terms of the merger agreement, at the closing, each outstanding share of common stock of Oglebay Norton will be cancelled and converted into the right to receive US$36 in cash, without interest, less any applicable withholding taxes. The transaction remains subject to satisfaction of customary conditions, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.
ENDS