Swenson, Rock of Ages Merge
Rock of Ages became a subsidiary of Swenson after approval of a stock buyout deal at a Jan. 18 special meeting of Rock of Ages stockholders. Swenson paid $5.25 per share for all outstanding Rock of Ages common stock not already held by Swenson officers or related parties.
“We thank our shareholders for their support over the years,” said Kurt Swenson, chairman of the board of Rock of Ages, “and for their approval of the merger proposal, especially the unaffiliated shareholders who own no interest in Swenson, who, by the affirmative vote of approximately 86 percent of the shares held by those shareholders present in person or by proxy at the special meeting, supported the merger.”
As a result of the merger, Rock of Ages’ Class A common stock ceased trading on the NASDAQ Global Market at yesterday’s close of business; the company will likely deregister and suspend its reporting obligations under the federal Securities and Exchange Act of 1934, as amended.
Rock of Ages announced the $39 million merger deal last October. Swenson Granite, founded in 1883, bought the 125-year-old Rock of Ages company in 1984. ROAC became a public-stock company in 1997 on the New York Stock Exchange, with the Swenson family holding a controlling interest.
American Stock Transfer & Trust Co. will serve as the agent for payment to Rock of Ages stockholders, and will promptly mail to stockholders instructions on how to surrender their stock certificates and receive payment for their shares.
If a shareholder’s shares of Company stock are held by a broker, nominee, custodian or other fiduciary and is not promptly provided by them with instructions on how to receive payment for the shares, the shareholder should contact them directly for such instructions.
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