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Kaiser agrees to allow Maxxam to sell 3.5 million shares of common stock
By Caroline Salls
Pittsburgh, July 5 - Kaiser Aluminum Corp. entered an agreement that will allow Maxxam Inc. and Maxxam Group Holdings Inc. to sell up to 3.5 million shares of Kaiser Aluminum common stock, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.
In 2002, Maxxam agreed to notify Kaiser each time it intended to dispose of any of its Kaiser shares.
Kaiser said the 3.5 million shares in question would not adversely impact its tax attributes.
Kaiser, a Houston-based aluminum company, filed for bankruptcy on Feb. 12, 2002. Its Chapter 11 case number is 02-10429.
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