Shareholders of Albermarle and Rockwood Holdings Approve Merger

Shareholders of Albemarle Corporation (NYSE:ALB) and Rockwood Holdings (NYSE:ROC) have approved a deal that would see Albemarle acquire Rockwood to merge the two companies. The deal remains subject to regulatory approval, but is anticipated to close in the first quarter of 2015.

As quoted in the publication:

At Albemarle’s special meeting, Albemarle shareholders approved the issuance of Albemarle common stock to Rockwood shareholders in connection with the proposed merger.

On July 15, Albemarle and Rockwood said they have entered into a definitive agreement under which Albemarle will acquire each outstanding share of Rockwood common stock for $50.65 in cash and 0.4803 of a share of Albemarle common stock.

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