Corrpro merger with Insituform on track to close March 31

By Lisa Kerner

Charlotte, N.C., March 16 - Corrpro Cos., Inc. shareholders voted at a special meeting on March 13 to approve the company's acquisition by a wholly owned subsidiary of Insituform Technologies, Inc.

A majority of the voting power of Corrpro's common shares and series B cumulative redeemable voting preferred stock entitled to vote at the meeting voted together as a single class to approve the merger proposal, Corrpro said.

The proposed merger is expected to close on or about March 31, according to Corrpro.

In February, Insituform announced an agreement to acquire Corrpro for about $1.44 per share.

Corrpro, based in Medina, Ohio, provides corrosion protection and pipeline maintenance services to the energy and water infrastructure industries.

Insituform is a Chesterfield, Mo.-based company that provides proprietary trenchless technologies to rehabilitate, replace, maintain and install underground pipes.

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