Harbinger, Oglebay clear waiting period hurdles in proposed merger

By Lisa Kerner

Charlotte, N.C., Aug. 29 - The Hart-Scott-Rodino waiting period ended in the proposed acquisition of Oglebay Norton Co. by Harbinger Capital Partners Master Fund I, Ltd. and Harbinger Capital Partners Special Situations Fund, LP, the investors announced on Wednesday.

In addition, the waiting period under the Ohio Control Bid Statute expired.

Harbinger's $31-per-share cash tender offer for Oglebay is slated to end Sept. 6.

The offer is dependent upon Harbinger receiving enough shares to give it a majority of the company's outstanding shares. Harbinger currently has a 17.5% stake in Oglebay.

Harbinger is a New York investment firm managing more than $12 billion in capital.

Oglebay Norton is a Cleveland-based provider of minerals and aggregates to markets including building materials, environmental remediation, energy and industrial applications.

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