Olin acquires Pioneer

By Lisa Kerner

Charlotte, N.C., Aug. 31 - Olin Corp. completed its acquisition of Pioneer Cos., Inc. and as a result Pioneer's common stock ceased trading on the Nasdaq Stock Market at the end of the day on Friday.

Under the companies' May merger agreement, Olin affiliate Princeton Merger Corp. merged with and into Pioneer, with Pioneer continuing as the surviving corporation and operating as a wholly owned subsidiary of Olin. Pioneer shareholders will receive $35 per share in cash.

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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