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Olin sets Sept. 15 date for shareholders’ Dow merger vote


From Illinois Business Journal news services

CLAYTON, Mo. – Olin Corp. has set a date of Sept. 15 for shareholders to vote on a merger with certain businesses of the Dow Chemical Co.

Olin today announced that it has filed a definitive proxy statement with the U.S. Securities and Exchange Commission regarding the pending merger of Olin’s business with the U.S. Gulf Coast Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses of Dow.

A special meeting of shareholders has been called to approve the issuance of shares of Olin common stock and an amendment to Olin’s Amended and Restated Articles of Incorporation to increase the number of authorized shares of Olin common stock in connection with the transaction.

That meeting will be held on Tuesday, Sept. 15, at 8:30 a.m. Eastern Time in the offices of Cravath, Swaine & Moore LLP at 825 Eighth Ave., New York, N.Y. 10019.

All shareholders of record of Olin’s common stock as of the close of business on Aug. 5, 2015, will be entitled to vote their shares either in person or by proxy.

The merger would result in Dow shareholders receiving at least a majority of the shares of Olin, with existing Olin shareholders owning the remaining shares. The transaction has been valued at up to $8 billion.

Olin’s stated goal is to become a low-cost global leader in chlor-alkali and derivatives.

The transaction is expected to close by the end of 2015, subject to the completion of customary closing conditions. All required antitrust regulatory clearances have been achieved.

Olin Corp. is a manufacturer concentrated in three business segments: Chlor Alkali Products, Chemical Distribution and Winchester. Chlor Alkali Products, with eight U. S. manufacturing facilities and one Canadian manufacturing facility, produces chlorine and caustic soda, hydrochloric acid, hydrogen, bleach products and potassium hydroxide. Chemical Distribution manufactures bleach products and distributes caustic soda, bleach products, potassium hydroxide and hydrochloric acid. Winchester, with its principal manufacturing facilities in East Alton, and Oxford, Miss., produces and distributes sporting ammunition, law enforcement ammunition, reloading components, small caliber military ammunition and components, and industrial cartridges.


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