Alcoa Completes Merger With Alumax.PITTSBURGH--(BUSINESS WIRE)--July 31, 1998--Alcoa announced today that the stockholders of Alumax Inc. voted to approve its merger with Alcoa Alcoa U.S. company, the world's largest producer of aluminum. Established in Pittsburgh, Pa., in 1888, it adopted the name Aluminum Co. of America in 1907. Alcoa introduced aluminum foil in 1910 and found uses for aluminum in the emerging aviation and automobile industries. (NYSE NYSE See: New York Stock Exchange :AA) at a special meeting of stockholders in Atlanta Atlanta (ətlăn`tə, ăt–), city (1990 pop. 394,017), state capital and seat of Fulton co., NW Ga., on the Chattahoochee R. and Peachtree Creek, near the Appalachian foothills; inc. 1847. . The merger is effective immediately. Shares of Alumax stock will cease trading on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. at the close of business today. As a result of the merger, each outstanding Alumax share was converted into 0.6975 of a share of Alcoa common stock. Alumax stockholders who hold their own stock certificates will receive notice in the mail regarding the process to exchange their shares for Alcoa stock. Alumax stockholders whose shares are held through banks or brokers will receive information about their holdings from those institutions.
CONTACT: Alcoa
Joyce A. Saltzman, 412/553-4467
www.alcoa.com
|
|
||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion