Albemarle, Rockwood Shareholders Approve Merger Deal

(RTTNews) - Albemarle Corp. (ALB) and Rockwood Holdings, Inc. (ROC) said Friday that shareholders from both companies have approved the proposals relating to Albemarle's acquisition of Rockwood at their respective special meetings.

At Albemarle's special meeting, Albemarle shareholders approved the issuance of Albemarle common stock to Rockwood shareholders in connection with the proposed merger.

On July 15, Albemarle and Rockwood said they have entered into a definitive agreement under which Albemarle will acquire each outstanding share of Rockwood common stock for $50.65 in cash and 0.4803 of a share of Albemarle common stock.

On November 13, Albemarle received regulatory clearance for the deal from the European Commission.

The deal, which is expected to close in the first quarter of 2015, remains subject to the satisfaction of the closing conditions, including regulatory approvals in China.