Smith Investment spins off assets as part of merger with A.O. Smith

By Lisa Kerner

Charlotte, N.C., Jan. 20 - Smith Investment Co. completed the spinoff to its shareholders of the company's assets and liabilities other than its shares of A.O. Smith Corp.

According to Smith Investment, its stockholders will receive one membership unit in Smith Investment Co. LLC, a limited liability company formed for purposes of the spinoff, for each share of Smith Investment common stock held as of Dec. 22.

The spinoff is to facilitate the proposed merger of Smith Investment, A.O. Smith's largest shareholder, and an A.O. Smith subsidiary first announced in December, Smith Investment said.

Under the companies' merger agreement, Smith Investment shareholders will receive 2.396 shares of A.O. Smith class A common stock and 0.463 shares of A.O. Smith common stock for each share of Smith Investment stock they hold, it was previously reported.

Milwaukee-based A.O. Smith manufactures residential and commercial water heating equipment.

Smith Investment, also based in Milwaukee, provides multicolor printing and related services and commercial warehousing, trucking and packaging.

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