Maverick Tube (NYSE:MVK)
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From Jul 2019 to Jul 2024
Maverick Tube Corporation (NYSE:MVK) announced today that the
stockholders of Maverick have approved the previously announced merger
with a subsidiary of Tenaris S.A. at a special meeting held on Monday,
October 2nd. Upon consummation of the merger,
Maverick will become a wholly owned subsidiary of Tenaris S.A. All other
conditions to the merger have been satisfied and the parties expect that
the merger will be consummated on October 5, 2006.
There were 25,634,954 votes cast at the special meeting in favor of the
merger representing approximately 69.4% of the 36,954,313 shares
entitled to vote.
Under the terms of the merger agreement, Maverick stockholders will
receive $65 in cash for each share of Maverick common stock they own.
Maverick stockholders will receive letters of transmittal from the
paying agent for the transaction shortly after the merger is completed
for them to complete and return with their stock certificates to receive
their per share merger consideration.
“As we complete the final steps towards
Maverick’s acquisition by Tenaris, I would
once again like to thank all of the members of the Maverick family -
customers, suppliers, stockholders, directors and, especially, employees,”
said Maverick’s Chief Executive Officer, C.
Robert Bunch. “Working together for mutual
benefit, you have created a company of which we can all be proud.”
Maverick Tube Corporation is a St. Louis, Missouri based manufacturer of
tubular products in the energy industry for exploration, production, and
transmission, as well as industrial tubing products (steel electrical
conduit, standard pipe, pipe piling, and mechanical tubing) used in
various applications.
Forward-Looking Statements
This news release contains forward-looking information that is based on
assumptions that are subject to numerous business risks, many of which
are beyond the control of Maverick. Furthermore, statements about the
expected timing, completion and effects of the proposed merger and all
other statements in this filing other than historical facts, constitute
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
Readers are cautioned not to place undue reliance on these
forward-looking statements and any such forward-looking statements are
qualified in their entirety by reference to the following cautionary
statements.
All forward-looking statements speak only as of the date hereof and are
based on current expectations and involve a number of assumptions, risks
and uncertainties that could cause the actual results to differ
materially from such forward-looking statements. Maverick may not be
able to complete the proposed merger because of a number of factors,
including the failure of Maverick’s
stockholders to approve the merger, the failure to obtain regulatory
approvals or the failure to satisfy other closing conditions. Factors
that may affect the business or financial results of Maverick include
those described under “Risk Factors”
and elsewhere in Maverick’s Form 10-K for its
year ended December 31, 2005, as amended. Maverick assumes no obligation
to update any forecast or forward-looking statements included in this
document, except as required by law.
Maverick Tube Corporation (NYSE:MVK) announced today that the
stockholders of Maverick have approved the previously announced merger
with a subsidiary of Tenaris S.A. at a special meeting held on Monday,
October 2nd. Upon consummation of the merger, Maverick will become a
wholly owned subsidiary of Tenaris S.A. All other conditions to the
merger have been satisfied and the parties expect that the merger will
be consummated on October 5, 2006.
There were 25,634,954 votes cast at the special meeting in favor
of the merger representing approximately 69.4% of the 36,954,313
shares entitled to vote.
Under the terms of the merger agreement, Maverick stockholders
will receive $65 in cash for each share of Maverick common stock they
own. Maverick stockholders will receive letters of transmittal from
the paying agent for the transaction shortly after the merger is
completed for them to complete and return with their stock
certificates to receive their per share merger consideration.
"As we complete the final steps towards Maverick's acquisition by
Tenaris, I would once again like to thank all of the members of the
Maverick family - customers, suppliers, stockholders, directors and,
especially, employees," said Maverick's Chief Executive Officer, C.
Robert Bunch. "Working together for mutual benefit, you have created a
company of which we can all be proud."
Maverick Tube Corporation is a St. Louis, Missouri based
manufacturer of tubular products in the energy industry for
exploration, production, and transmission, as well as industrial
tubing products (steel electrical conduit, standard pipe, pipe piling,
and mechanical tubing) used in various applications.
Forward-Looking Statements
This news release contains forward-looking information that is
based on assumptions that are subject to numerous business risks, many
of which are beyond the control of Maverick. Furthermore, statements
about the expected timing, completion and effects of the proposed
merger and all other statements in this filing other than historical
facts, constitute forward-looking statements within the meaning of the
safe harbor provisions of the Private Securities Litigation Reform Act
of 1995. Readers are cautioned not to place undue reliance on these
forward-looking statements and any such forward-looking statements are
qualified in their entirety by reference to the following cautionary
statements.
All forward-looking statements speak only as of the date hereof
and are based on current expectations and involve a number of
assumptions, risks and uncertainties that could cause the actual
results to differ materially from such forward-looking statements.
Maverick may not be able to complete the proposed merger because of a
number of factors, including the failure of Maverick's stockholders to
approve the merger, the failure to obtain regulatory approvals or the
failure to satisfy other closing conditions. Factors that may affect
the business or financial results of Maverick include those described
under "Risk Factors" and elsewhere in Maverick's Form 10-K for its
year ended December 31, 2005, as amended. Maverick assumes no
obligation to update any forecast or forward-looking statements
included in this document, except as required by law.