Olin (OLN) Acquires Pioneer Companies (PONR) for $35/Share
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Olin Corporation (NYSE: OLN) and Pioneer Companies, Inc. (Nasdaq: PONR) entered a definitive agreement under which Olin will acquire Pioneer. The proposed transaction, which has been approved by the Board of Directors of both companies, calls for Olin to pay $35.00 in cash for each outstanding share of Pioneer common stock. Shares of Pioneer closed at $29.38 on Friday.
Olin expects that the transaction will be completed in the second half of 2007.
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