Sequa moves meeting date for merger vote

By Lisa Kerner

Charlotte, N.C., Sept. 5 - Sequa Corp. postponed the special meeting at which stockholders were to vote on the proposed merger with a Carlyle Group affiliate to 9 a.m. ET on Sept. 17, from Sept. 11.

The record date for the meeting remains Aug. 27, according to a company news release.

Sequa said it changed the meeting date to allow shareholders more time to consider the merger with Blue Jay Acquisition Corp.

Under the July 9 merger agreement, Sequa stockholders will receive $175 per share in a transaction valued at $2.7 billion.

Carlyle, a private equity firm, plans to fund the acquisition through a combination of equity contributed by affiliated investment funds along with external debt financing provided by Lehman Brothers, Citigroup and JPMorgan.

Sequa is a New York diversified manufacturing company operating seven operating units in aerospace, automotive, metal coating, specialty chemical, industrial machinery and other products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.