Solutia completes Southwall’s tender successfully

Solutia completes Southwall’s tender successfully

1:18 AM, 24th November 2011
Solutia completes Southwall’s tender successfully

St. LOUIS,USA: Solutia Inc. is a wholly-owned subsidiary and Backbone of Acquisition Sub, Inc., which was formed for the purpose of acquiring Southwall Technologies Inc. (Southwall). Solutia announced the completion of the tender offer for all of the outstanding shares of common stock of Southwall at a purchase price of $13.60 per share in cash, without interest and less any applicable withholding taxes, as specified in the offer to purchase dated October 25, 2011, as amended, and the related letter of transmittal. The depositary for the tender offer has advised 7,140,879 shares of common stock of Southwall had been validly tendered and not properly withdrawn which includes shares of common stock issued upon the conversion of all of Southwall's outstanding convertible preferred stock. The tendered shares represent approximately 95.7% of the outstanding shares of common stock of Southwall.

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