Waiting period ends in Olin's proposed buyout of Pioneer Cos.

By Lisa Kerner

Charlotte, N.C., July 16 - The Hart-Scott-Rodino waiting period ended in Olin Corp.'s proposed acquisition of Pioneer Cos. Inc.

As previously reported, a May 20 definitive agreement gives Pioneer shareholders $35 cash per share. A $15,634,552 termination fee is included in the agreement.

Both companies' boards of directors have approved the transaction, which is expected to close in the second half of 2007.

Olin, located in Clayton, Mo., manufactures chlor alkali, metal and ammunition products for commercial and industrial markets.

Houston-based Pioneer manufactures chlorine, caustic soda, bleach, hydrochloric acid and related products.

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