Univar Solutions Stockholders Approve Acquisition by Apollo Funds

News provided by Univar Solutions Inc.

06 Jun, 2023, 16:15 ET

DOWNERS GROVE, Ill., June 6, 2023 /PRNewswire/ — Univar Solutions Inc. (NYSE: UNVR) (“Univar Solutions” or the “Company”), a leading global solutions provider to users of specialty ingredients and chemicals, announced today that its stockholders have voted at a special meeting of Univar Solutions stockholders (the “Special Meeting”) to approve the Company’s pending acquisition by funds managed by affiliates of Apollo (NYSE: APO). Under the terms of the merger agreement, Univar Solutions stockholders will receive $36.15 per share in cash for every share of Univar Solutions common stock they own immediately prior to the effective time of the merger.

At the Special Meeting, approximately 93.6% of the shares voted were voted in favor of the merger, which represented approximately 81.3% of the total outstanding shares of Univar Solutions common stock as of May 1, 2023, the record date for the Special Meeting.

Univar Solutions Stockholders Approve Acquisition by Apollo Funds

“We are pleased that our stockholders overwhelmingly supported our transaction with Apollo,” said Chris Pappas, chairman of the Univar Solutions Board of Directors. “We now shift our focus to the important next steps toward completing the transaction and maximizing value for Univar Solutions stockholders.”

Assuming timely satisfaction of necessary closing conditions, the transaction is expected to close in the second half of 2023.

The final voting results on the proposals voted on at the special meeting will be set forth in a Form 8-K filed by Univar Solutions with the U.S. Securities and Exchange Commission.

https://www.prnewswire.com/news-releases/univar-solutions-stockholders-approve-acquisition-by-apollo-funds-301844099.html