Based on the total number of shares of PPG common stock reported to be tendered and not properly withdrawn prior to the expiration of the exchange offer, the exchange offer was oversubscribed by approximately 61,297,665 shares, including 34,973,611 shares tendered pursuant to guaranteed delivery procedures, resulting in a preliminary proration factor of approximately 14.32 percent.PPG will not be able to determine the final proration factor until the delivery of shares of PPG common stock tendered by guaranteed delivery is completed at 5:00 p.m., New York City time, on Jan. 31, 2013. PPG will publicly announce the final proration factor, which may be different from today’s preliminary estimate, as soon as it has been determined.
PPG Announces Preliminary Results Of Exchange Offer; Intends To Accept Tendered Shares And Expects Closing Of The Separation Of Its Commodity Chemicals Business And The Merger Of The Business With Georgia Gulf Later Today
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.