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Article: Belmont, Cavalier merger gets thumbs up
- Article from:
- The Mississippi Business Journal
- Article date:
- February 2, 1998
- Author:
CopyrightCopyright Mississippi Business Journal Feb 02, 1998. Provided by ProQuest LLC. (Hide copyright information)
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BELMONT--Just as expected, the proposed merger between Mississippi's Belmont Homes and Alabama's Cavalier Homes has gone off without a hitch.
At a specially-called stockholders meeting in Alabama on New Year's Eve, both publicly-traded companies overwhelmingly approved the deal valued at nearly $76 million. The deal essentially received approval from the Federal Trade Commission in early October and from the Securities and Exchange Commission in early December, said Mike Murphy, Cavalier's chief financial officer.
A Cavalier-issued news release said that more than 99% of Belmont's stockholders and more than 97% of Cavalier's stockholders, approved the deal which resulted in 7.6 million ...