Reading time ( words)
OM Group, Inc. today announced that both proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis & Co., LLC have recommended that their clients vote FOR adoption of the merger agreement dated May 31, 2015 among the Company and funds managed by affiliates ofApollo Global Management, LLC and a wholly-owned subsidiary of Platform Specialty Products at the Special Meeting of Stockholders on August 10, 2015.
The Merger Agreement provides OM Group stockholders with a cash price of $34.00 per share, representing an approximately 28% premium above OM Group's closing share price on May 29, 2015, the last trading day prior to the announcement of the merger.
"We are pleased that both ISS and Glass Lewis have recommended that our stockholders vote FOR the acquisition of the Company by Apollo. We look forward to our stockholders' support for the transaction at our Special Meeting of Stockholders on August 10," said Joe Scaminace, Chairman and Chief Executive Officer of OM Group.
About OM Group
OM Group is a technology-driven diversified industrial company serving attractive global markets, including automotive systems, electronic devices, aerospace and defense, industrial and medical. Its business platforms use innovation and technology to address customers' complex applications and demanding requirements. For more information, visit the Company's website at www.omgi.com.