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Solvay to Launch Squeeze-out of Rhodia Shares Not Yet Tendered

5:08 AM MDT | September 14, 2011 | Kerri Walsh

Solvay says it will implement a squeeze-out procedure for the Rhodia shares and the bonds convertible into and/or exchangeable for newly issued or existing shares (OCEANE) that had not been tendered by August 24. The squeeze-out will be implemented on September 16, according to the French financial markets authority AMF (Paris). About 94.25% of Rhodia’s shares and 97.51% of the OCEANEs have been tendered. The number of Rhodia shares that have not been tendered represents 4.89% of the share capital and voting rights, Solvay says. The number of shares that...

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