Stockholders of Hydril Company Approve Merger with Tenaris S.A.
May 02 2007 - 2:03PM
Business Wire
Hydril Company (NASDAQ:HYDL) announced today that the stockholders
of Hydril at a special meeting held on Wednesday May 2, 2007
approved the merger agreement with Tenaris S.A. (NYSE:TS) and the
previously announced merger with a subsidiary of Tenaris S.A. Upon
consummation of the merger, Hydril will become an indirect, wholly
owned subsidiary of Tenaris. The parties expect that the merger
will occur on May 7, 2007. Under the terms of the merger agreement,
Hydril stockholders will receive $97.00 in cash for each share of
Hydril common stock and class B common stock they own. Following
the merger, Hydril stockholders will promptly receive letters of
transmittal from the paying agent to complete and return with their
stock certificates to receive the per share merger consideration.
Hydril, headquartered in Houston, Texas, is engaged worldwide in
designing, manufacturing and marketing premium connection and
pressure control products used for oil and gas drilling and
production.
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