New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 7, 2014
08:37 EDTKRAKraton Performance withdraws recommendation for approval of LCY combination
Kraton Performance's Board of Directors withdrew its prior recommendation that Kraton's stockholders approve the previously announced Combination Agreement under which Kraton would combine with LCY's styrenic block copolymer operations. Following Kraton's June 30th notification of its Board's intention to change its recommendation due to decline in results, LCY notified Kraton on August 4 that it would no longer negotiate, and would not agree to, any revisions to the terms and conditions. As a result of the Kraton Board's withdrawal of its recommendation, LCY has the contractual right to terminate the Combination Agreement. The Combination Agreement provides for Kraton to pay LCY a $25M break up fee upon a termination of the Combination Agreement unless a LCY material adverse effect has occurred and is continuing at the time of the withdrawal of the Kraton Board's recommendation. The Kraton Board believes that the impact upon LCY of the July 31 explosion in a gas pipeline in Kaohsiung, Taiwan constitutes a LCY material adverse effect as defined in the Combination Agreement.
News For KRA From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
There are no results for KRA

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use