Albemarle Corporation and Sorbent Technologies Sign Agreement of Merger
Albemarle Corporation and Sorbent Technologies Corporation jointly announced that they have signed an agreement of merger. The transaction will be an all-cash transaction in which the shareholders of Sorbent Technologies could receive approximately $6.00 per share of common stock, which represents an aggregate purchase price of $20 million plus certain adjustments. The completion of the transaction is subject to certain typical conditions, including Sorbent Technologies receiving shareholder approval. Sorbent expects to hold a special meeting of shareholders in early July 2008 and close the merger shortly thereafter.
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