Hercules shareholders to decide merger with Ashland Nov. 5

By Lisa Kerner

Charlotte, N.C., Oct. 3 - Hercules Inc. shareholders will be asked to approve the company's merger with Ashland Inc. at a special meeting at 11 a.m. ET on Nov. 5.

Record date for the meeting is Sept. 19, according to schedule 14A filed with the Securities and Exchange Commission.

The Hercules board of directors has approved the merger agreement and unanimously recommends that shareholders vote in favor of the transaction, the filing said.

Ashland announced previously that it expected to close the merger in November.

In July, Ashland agreed to acquire Hercules in a stock and cash deal valued at $23.01 per Hercules share, or about $3.3 billion including debt.

Under the companies' definitive merger agreement, Hercules shareholders will receive $18.60 per share in cash plus 0.093 of a share of Ashland common stock for each share of Hercules common stock, it was previously reported.

Ashland is a diversified chemical company based in Covington, Ky.

Hercules manufactures and markets specialty chemicals for making a variety of products for home, office and industrial markets. The company is based in Wilmington, Del.

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