Rock of Ages announces completion of $25.2 million merger with Swenson Granite of NH

first_imgRock of Ages Corporation (NASDAQ:ROAC) has announced the completion of its previously announced pending merger with a wholly owned subsidiary of Swenson Granite Company LLC, of Concord, NH, whereby Swenson acquired all of the outstanding shares of common stock of the Company that it did not previously own for $5.25 per share in cash. The transaction is valued at $25.2 million. The company is now a wholly owned subsidiary of Swenson. The Swenson family has controlled Rock of Ages for many years and Kurt Swenson has been Rock of Ages’ CEO and chairman. As a result of the merger, the Company’s Class A common stock ceased trading on the NASDAQ Global Market at the close of business on January 19, 2011, and the company expects to deregister and suspend its reporting obligations under the Securities and Exchange Act of 1934, as amended.American Stock Transfer & Trust Company has been appointed to serve as the agent for payment of the merger consideration to Company 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.Kurt Swenson, Chairman of the Board of the Company, said, ‘We thank our shareholders for their support over the years, 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% of the shares held by those shareholders present in person or by proxy at the special meeting, supported the merger.’ BARRE, Vt.–(BUSINESS WIRE)-1.20.2011last_img

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