Olin shareholders back planned merger with Dow Chemical businesses
From Illinois Business Journal news services
CLAYTON, Mo. – Olin Corp. shareholders have endorsed the company’s planned merger with business units of The Dow Chemical Co.
Olin today announced that its shareholders have overwhelmingly approved 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 necessary to complete the pending merger with The Dow Chemical Company’s U.S. Chlor-Alkali and Vinyl, Global Chlorinated Organics and Global Epoxy businesses.
The transaction is still subject to customary closing conditions. The merger is expected to be completed early next month.
“The strong support from shareholders was demonstrated by the percent of votes cast in favor of this transformative transaction. With this milestone successfully behind us we look forward to closing the transaction early next month,” stated Joseph D. Rupp, Olin’s chairman and chief executive officer.