Merger of Hercules, Ashland slated to close Nov. 13

By Lisa Kerner

Charlotte, N.C., Nov. 5 - Hercules Inc. shareholders voted to approve the company's merger with Ashland Inc. at a special meeting on Wednesday.

The transaction is expected to close on Nov. 13, a Hercules news release said.

In July, Ashland agreed to acquire Hercules in a stock-and-cash deal valued at $23.01 per Hercules share, or about $3.3 billion including debt.

Under the companies' definitive merger agreement, Hercules shareholders will receive $18.60 per share in cash plus 0.093 shares of Ashland common stock for each share of Hercules common stock, it was previously reported.

Ashland is a diversified chemical company based in Covington, Ky.

Hercules manufactures and markets specialty chemicals for making a variety of products for home, office and industrial markets. The company is based in Wilmington, Del.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.