Oglebay Norton Shareholders Overwhelmingly Approve Merger with Carmeuse
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CLEVELAND, Nov. 9 / -- Oglebay Norton Company (OTC Pink Sheets: OGBY.PK) today announced that Oglebay Norton shareholders voted overwhelmingly to approve the company's merger with Carmeuse North America, a wholly-owned subsidiary of Carmeuse Group, at a special meeting of shareholders held today.
"We are extremely pleased with the outcome of today's vote," said Michael Lundin, President and Chief Executive Officer 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 $36.00 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.
About Oglebay Norton
Oglebay Norton Company, a Cleveland, Ohio-based company with a 150-year tradition of service, provides essential minerals and aggregates to a broad range of markets, from building materials and environmental remediation to energy and industrial applications. For more information, see: oglebaynorton.com.
FCMN Contact: LStevens@oglebay.onco.com
Source: Oglebay Norton Company
CONTACT: Julie A. Boland, Vice President, CFO, Treasurer and Corporate Secretary of Oglebay Norton Company, +1-216-861-8941; or Andrew Siegel or Jaime Wert of Wilkinson Brimmer Katcher, +1-212-355-4449, for Oglebay Norton Company
Web site: http://oglebaynorton.com/
