Business
Acetex announces the closing of the transaction with Celanese
Acetex announces the closing of the transaction with Celanese.
About this update from Atex Resources Inc.
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, July 20 /CNW/ - Acetex Corporation announced that effective\ntoday, HNA Acquisition Inc., a subsidiary of Celanese Corporation, acquired\n100% of the issued and outstanding common shares of Acetex Corporation for the\nprice of C$9.00 per share and an amount for each warrant and option equal to\nC$9.00 less the exercise price thereof, subject to a minimum of one cent per\noption.\n\"I would like to take this opportunity to thank the employees of Acetex\nfor their diligence, professionalism and perseverance over the past 10 years\nin strengthening and growing Acetex,\" said Brooke N. Wade, Chairman and Chief\nExecutive Officer of Acetex Corporation. \"On behalf of the shareholders and\nBoard of Directors, I wish them well as they become part of Celanese\nCorporation, an exceptional company that will provide even more opportunity\nfor challenge and growth. I would particularly like to thank the employees,\nshareholders and our Saudi joint venture partners for the patience\ndemonstrated during the regulatory review period and subsequent successful\nconsummation of the transaction.\"\nThe transaction was effected by way of a statutory plan of arrangement\nunder the Business Corporations Act (Alberta) and was completed following the\nrequired approval of the holders of Acetex shares, options and warrants,\ninterim and final orders of the Court of Queen's Bench of Alberta and other\nregulatory approvals.\n\n\n","length":1491,"tagName":"div"}]