Myers Industries shareholders to vote on acquisition by private equity group on July 23

By Lisa Kerner

Charlotte, N.C., June 20 - Myers Industries, Inc. will hold its special meeting of shareholders at 10 a.m. ET on July 23 in Akron, Ohio.

Shareholders of record as of June 11 will be asked to vote on the April 24 agreement in which Myers will be acquired by GS Capital Partners for about $1.07 billion including debt.

Under the terms of the agreement, Myers shareholders will receive $22.50 per share in cash for each share of common stock they hold. The company's board of directors, on the recommendation of a special committee, has unanimously approved the transaction and recommends that its shareholders do the same.

The agreement includes a $25 million termination fee, according to a schedule 14A filing with the Securities and Exchange Commission.

Myers is an Akron, Ohio, manufacturer of polymer products for industrial, agricultural, automotive, commercial and consumer markets.

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