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Gibraltar to become wholly-owned subsidiary of Rosmar
18 Mar '08
2 min read
Gibraltar Packaging Group Inc announced that it has entered into a definitive agreement and plan of reorganization, merger and dissolution with Rosmar Packaging Group Inc, a leader in the packaging and printing industry in North America.
Under the terms of the agreement, a newly-formed corporation to be owned by the current stockholders of Gibraltar will become a wholly-owned subsidiary of Rosmar, the stockholders of such newly-formed corporation will receive $4.25 in cash, without interest, for each share they own at the effective time of the merger and Gibraltar will dissolve.
The transaction is expected to be completed during the second quarter of this year, subject to receipt of Gibraltar stockholder approval and Rosmar obtaining financing to complete the transaction.
In connection with the proposed transaction, Gibraltar will mail a proxy statement to its stockholders. Stockholders are advised to read the proxy statement because it contains important information about the proposed transaction.
Duff & Phelps acted as financial advisor to the Board of Directors of Gibraltar and has delivered a fairness opinion to the Board. Greenberg Traurig, LLP is acting as legal advisor to Gibraltar and Gowling Lafleur Henderson LLP and Torys LLP are acting as legal advisors to Rosmar.
Under the terms of the agreement, a newly-formed corporation to be owned by the current stockholders of Gibraltar will become a wholly-owned subsidiary of Rosmar, the stockholders of such newly-formed corporation will receive $4.25 in cash, without interest, for each share they own at the effective time of the merger and Gibraltar will dissolve.
The transaction is expected to be completed during the second quarter of this year, subject to receipt of Gibraltar stockholder approval and Rosmar obtaining financing to complete the transaction.
In connection with the proposed transaction, Gibraltar will mail a proxy statement to its stockholders. Stockholders are advised to read the proxy statement because it contains important information about the proposed transaction.
Duff & Phelps acted as financial advisor to the Board of Directors of Gibraltar and has delivered a fairness opinion to the Board. Greenberg Traurig, LLP is acting as legal advisor to Gibraltar and Gowling Lafleur Henderson LLP and Torys LLP are acting as legal advisors to Rosmar.
Gibraltar Packaging Group Inc
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