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Article: Crompton & Knowles and Uniroyal Chemical agree to merge.
- Article from:
- Business Wire
- Article date:
- May 1, 1996
CopyrightCOPYRIGHT 1996 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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STAMFORD AND MIDDLEBURY, Conn.--(BUSINESS WIRE)--May 1, 1996-- Crompton & Knowles Corp. and Uniroyal Chemical Corp. announced today that they had signed a definitive merger agreement.
The transaction has been approved by the boards of directors of Crompton & Knowles and Uniroyal Chemical, and is subject to the approval of shareholders of both companies. The combined company will have sales of approximately $1.7 billion.
Under the terms of the agreement, each share of Uniroyal Chemical common stock will be exchanged for common stock of Crompton & Knowles valued at $15.00 per Uniroyal Chemical share based on the average price of Crompton & Knowles's stock over ...