The Board of Directors of Shaw Industries, Inc., has approved the proposed acquisition of Shaw Industries by an investor group led by Berkshire Hathaway, Inc. Following the approval, Shaw Industries, Inc. entered into a merger agreement with Berkshire Hathaway and a newly-formed corporation which will be owned by this investor group. Under the terms of the merger agreement, upon approval by the shareholders of Shaw Industries, and satisfaction of certain regulatory approvals, this corporation will be merged into and with Shaw Industries, with Shaw Industries being the surviving corporation in the merger. As a result of the merger, shareholders of Shaw Industries will receive $19.00 in cash for each share of common stock that they own at the time of the merger and Shaw Industries will become wholly owned by members of the investor group.
From officeinsight
