Borden Chemical, Inc. Successfully Completes Cash Tender Offer for the Shares of Melamine Chemicals, Inc.COLUMBUS, Ohio--(BUSINESS WIRE)--Nov. 14, 1997--Borden Chemical, Inc. announced today that its cash tender offer for all outstanding shares of common stock of Melamine melamine (mĕl`əmēn'), common name for 2,4,6-triamino-1,3,5-triazine. Melamine is a trimer (see polymer) of cyanamide, H2NC≡N, and is synthesized from calcium carbide. Chemicals, Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :MTWO) expired, as scheduled, at 12:00 midnight, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on November 13, 1997. Based on information provided by the Depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. , a total of 5,494,996 shares of Melamine Chemicals, Inc. (or approximately 97.6 percent of the outstanding shares of Melamine Chemicals) were validly tendered and not properly withdrawn pursuant to Borden Chemical's cash offer for all outstanding shares of Melamine Chemicals. The tendered share amount includes approximately 26,109 shares subject to guarantee of delivery. Borden Chemical, Inc., through its subsidiary making the offer, has accepted for purchase all shares validly tendered and not properly withdrawn prior to the expiration of the offer. In the second step of the acquisition, Melamine Chemicals will be merged with a subsidiary of Borden Chemical, Inc. and each Melamine Chemicals share not previously purchased in the tender offer will be converted into the right to receive $20.50 in cash pursuant to the terms of the tender offer. The merger will be completed as soon as practicable. Note to editors: Borden Chemical, Inc. is privately held and not affiliated with the publicly traded Borden Chemicals and Plastics Limited Partnership, (NYSE NYSE See: New York Stock Exchange :BCU BCU British Canoe Union BCU Basic Command Unit (British Police) BCU Big Close-Up BCU Bus Controller Unit BCU Battery Coolant Unit BCU Bandwidth Control Unit BCU Beer Cans Unlimited (collectors) ). CONTACT: Borden Chemical, Inc. Peter F. Loscocco, 614/225-4127 |
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