6 August 1998: Building materials manufacturer, Bird Corp. of the US, and CertainTeed Corporation, a subsidiary of Compagnie de Saint-Gobain (Paris, France), announced the consummation of the second-s…
6 August 1998: Building materials manufacturer, Bird Corp. of the US, and CertainTeed Corporation, a subsidiary of Compagnie de Saint-Gobain (Paris, France), announced the consummation of the second-step merger of a CertainTeed subsidiary into Bird, with Bird surviving the merger as a subsidiary of CertainTeed. At a special meeting held on 29 July 1998, Bird stockholders approved the merger, which became effective on that date. As a result, subject to dissenters“ rights, the remaining outstanding shares of Bird Common Stock and outstanding Bird US$ 1.85 Cumulative Convertible Preference Stock that CertainTeed did not acquire in its first-step tender offer, completed in February 1998, will be exchanged for US$ 5.50 per share for Common Shares and US$ 20 per share for Preference Shares. All outstanding shares of Bird“s 5% Cumulative Preferred Stock, par value US$ 100 per share, remain issued and outstanding, but are expected, subject to dissenters“ rights, to be called for redemption and retirement as soon as practicable at a price equal to US$ 110 per share, plus all accrued and unpaid dividends, through the date of redemption and retirement.