Westway And EQT Infrastructure II Announce Successful Completion Of Acquisition Of Westway
WHITE PLAINS, NY and NEW ORLEANS, LA, Feb. 1, 2013 (GLOBE NEWSWIRE) -- Westway Group, Inc. (Nasdaq:WWAY) ("Westway") and EQT Infrastructure II ("EQT") today announced the successful consummation of the previously announced merger of EQT's wholly-owned affiliate, Bishop Infrastructure III Acquisition Company, Inc., with and into Westway.
Under the terms of the merger agreement and as a result of the merger, each share of capital stock of Westway remaining outstanding after the consummation of EQT's tender offer for all of the capital stock of Westway was converted into the right to receive an amount equal to $6.70 in cash, without interest thereon and less any required withholding taxes (the "Merger Consideration"). As a result of the merger, Westway is a wholly-owned affiliate of EQT.
Continental Stock Transfer and Trust Company, as exchange agent for the merger, will mail letters of transmittal to all Westway stockholders of record immediately prior to the merger with instructions on how to surrender their shares in exchange for the Merger Consideration. Westway stockholders should not surrender their shares until they have reviewed the instructions in the letter of transmittal or contacted their banks or brokers to determine what actions they must take to receive the Merger Consideration.
|Glen T. Matsumoto +1 914 607 4502|
|Partner at EQT Partners,|
|Investment Advisor to EQT Infrastructure II|
|EQT Press Department +46 8 506 55 334|
|Thomas A. Masilla, Jr.|
|Chief Financial Officer, Westway Group, Inc.|
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