Angelica Corporation (SGL) Shareholders Vote to Approve Merger At $22 A Share
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Angelica Corporation (NYSE: AGL) announced that its shareholders approved the merger agreement between Angelica and a company formed by Lehman Brothers Merchant Banking. The merger agreement was approved today at a special meeting of shareholders of Angelica's outstanding shares of common stock, with more than 99% of the shares voted cast in favor of the transaction.
Under the terms of the merger agreement, all of the outstanding shares of Angelica will be acquired for a price per share of $22.00 in cash. Angelica's common stock, which has been listed on the New York Stock Exchange, will no longer be publicly traded. The merger is expected to be completed next week. Completion of the merger remains subject to the satisfaction or waiver of all closing conditions in accordance with the terms of the merger agreement.
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