TXP, SMS to merge on reverse stock split.DALLAS and NEW ORLEANS New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded -- Stock Market Solutions Inc. (SMS (1) (Storage Management System) Software used to routinely back up and archive files. See HSM. (2) (Systems Management Server) Systems management software from Microsoft that runs on Windows NT Server. ) reported that its shareholders have approved a 1-for-10 reverse stock split as part of its merger with Dallas-based Texas Prototypes (TXP TXP Textpattern TXP Transponder (aircraft radio that responds to radar) TXP Transaction Protocol TXP Transaction Processor TXP Tape Transport (usually open reel tape deck) TXP Taxoprexin DHA-paclitaxel ). Once the reverse split is effective, SMS will have sufficient authorized and unissued shares to exchange for all outstanding shares of TXP and complete the merger of the two companies, subject to additional closing conditions set forth in the merger agreement. Following the closing of the agreement and merger, SMS will change its name to YTXP Corp. TXP's CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Michael Shores, will assume leadership of the new public company. |
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