Pioneer stockholders to decide Olin merger on Aug. 28

By Lisa Kerner

Charlotte, N.C., July 17 - Pioneer Cos., Inc. will hold its special meeting of stockholders at 11 a.m. ET on Aug. 28. Shareholders of record as of July 23 will be asked to vote on the adoption of the agreement and plan of merger with Olin Corp.

Olin affiliate Princeton Merger Corp. will merge with and into Pioneer, with Pioneer continuing as the surviving corporation and operating as a wholly owned subsidiary of Olin, a news release stated.

As previously reported, Olin entered into an agreement in May to acquire Pioneer for $35 per share in cash. Both companies' boards of directors approved the transaction. A $15,634,552 termination fee is included in the agreement.

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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