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Solvay Welcomes Cytec’s Shareholders Approval for The Proposed Acquisition

By   /   November 25, 2015  /   No Comments

Brussels, Belgium The shareholders of Cytec Industries Inc. voted on a resolution to approve the proposed acquisition by Solvay. The resolution received the support of 99.3% of the votes cast.

Solvay announced the proposed acquisition of Cytec for US$ 75.25 per share in cash on July 29.

Solvay shareholders voted at an Extraordinary Meeting on November 17 to authorize the company to proceed with a rights issue of 1.5 billion euros maximum to finance this acquisition.

Solvay expects the closing of the acquisition before year-end. Preparations are in hand to ensure a rapid and smooth integration thereafter.

Source: Solvay

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  • Published: 2 years ago on November 25, 2015
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  • Last Modified: November 25, 2015 @ 1:11 pm
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