Following Solutia’s cash tender offer to purchase all outstanding shares of common stock of Southwall on October 7, 2011, it has now been announced that the tender will be finalized on November 22, 2011. Southwall is a film and glass producer for the automotive and architectural industries.
The materials and chemicals company Solutia is filing the tender offer statement with the US Securities and Exchange Commission (SEC) with the terms and conditions.
Upon the successful closing of the tender offer, stockholders of Southwall will receive US$13.60 in cash, for each share of Southwall common stock. Following the completion of the tender offer and the receipt of stockholder approval, Southwall will merge with a subsidiary of Solutia and become a wholly-owned subsidiary of Solutia.