Myers Industries' shareholders OK acquisition by equity fund

By Lisa Kerner

Charlotte, N.C., July 23 - Myers Industries, Inc. shareholders approved the acquisition of the company by Myers Holdings Corp., an affiliate of GS Capital Partners, at a special meeting held on Monday.

Approximately 68.8%, or 24.2 million shares, were voted in favor of the merger, according to a company news release.

The companies expect the transaction to close in the third quarter.

As previously reported, the April 24 definitive agreement gives Myers stockholders $22.50 per share in a cash transaction valued at about $1.1 billion including debt.

GS Capital is a private equity fund affiliated with Goldman, Sachs & Co.

Myers is an Akron, Ohio, manufacturer of polymer products for industrial, agricultural, automotive, commercial and consumer markets.

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