Shareholders of LMI Aerospace Inc. (St. Louis), at a special meeting held June 8, approved the merger agreement for the Sonaca Groups acquisition of LMI. Under the terms of the agreement, LMI shareholders will be entitled to receive $14 per share in cash at the closing of the transaction. <\/p>\n
LMI is supplier of structural assemblies, kits and components and provider of engineering services to the commercial, business and regional, and military aerospace markets. Sonaca Group is a global Belgian company active in the development, manufacturing and assembly of advanced structures for civil, military and space markets. <\/p>\n
Shareholder approval is an essential milestone toward closing this transaction, said Dan Korte, LMI Aerospace CEO. With the strong support our shareholders gave today, we are one step closer to building a bright future together with the Sonaca Group. <\/p>\n
We look forward to welcoming LMI Aerospace to the Sonaca Group, said Bernard Delvaux, Sonaca CEO. As complementary businesses with different core customers, we see opportunities to combine our strengths to better serve our customers and expand our market access globally. <\/p>\n
Approximately 76.7 percent of outstanding shares voted, with more than 99.4 percent of votes cast in favor of the merger agreement and related transactions. LMI shareholders also approved, on an advisory (non-binding) basis, certain compensation that may be paid or become payable to LMIs named executive officers in connection with the transaction. LMI will file with the Securities and Exchange Commission Form 8-K with the final voting results on all agenda items. The transaction is subject to customary closing conditions, including required regulatory approvals. Closing is expected by the end of June 2017. <\/p>\n<\/p>\n
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LMI Aerospace Shareholders Approve Merger Agreement for Acquisition by Sonaca Group - Advanced Manufacturing<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Shareholders of LMI Aerospace Inc. Continue reading