Sequa sets meeting date for merger vote

By Lisa Kerner

Charlotte, N.C., Aug. 27 - Sequa Corp. will hold a special meeting of stockholders at 9 a.m. ET on Sept. 11 to vote on the company's acquisition by the Carlyle Group. The meeting date was announced in a schedule 14A filing with the Securities and Exchange Commission.

The companies' July 9 agreement gives Sequa stockholders $175 per share in a transaction valued at $2.7 billion.

Sequa's go-shop period for additional third-party proposals ended Aug. 23. The transaction is slated to close in the fourth quarter of 2007.

It was previously reported that Carlyle, a private equity firm, would fund the acquisition through a combination of equity contributed by affiliated investment funds along with external debt financing provided by Lehman Brothers, Citigroup and JPMorgan.

Sequa is a New York diversified manufacturing company operating seven operating units in aerospace, automotive, metal coating, specialty chemical, industrial machinery and other products.

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