Merger of Nevada Chemicals, Cyanco Holding affiliate clears HSR waiting period

By Lisa Kerner

Charlotte, N.C., Sept. 24 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger of Nevada Chemicals, Inc. and Calypso Acquisition Corp., according to a government report.

Calypso agreed to acquire Nevada Chemicals for $13.37 per share in a cash tender offer valued at $94 million, it was previously reported.

The per-share offer price is a 36% premium over Nevada Chemicals' closing stock price on Sept. 5, a prior news release said.

Calypso is an affiliate of Cyanco Holding Corp. and OCM Principal Opportunities Fund IV, LP, a fund managed by Oaktree Capital Management, LP.

Nevada Chemicals, through its subsidiary Winnemucca Chemicals, Inc., owns a 50% interest in Cyanco Co., which manufactures liquid sodium cyanide for use in the gold mining industry. The company is located in Sandy, Utah.

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