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The Fire is Burning
Leading Proxy Advisory Firms ISS and Glass Lewis Recommend OM Group Stockholders Vote “FOR” the Merger Transaction with Apollo Affiliated Funds in Partnership with Platform Specialty Products
All-Cash Transaction Provides OM Group Stockholders with $34.00 Per Share
CLEVELAND, July 30, 2015 /PRNewswire/ OM Group, Inc. (NYSE: OMG) today announced that both proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis & Co., LLC have recommended that their clients vote FOR adoption of the merger agreement dated May 31, 2015 (“Merger Agreement”) among the Company and funds managed by affiliates of Apollo Global Management, LLC (NYSE: APO) and a wholly-owned subsidiary of Platform Specialty Products (NYSE: PAH) at the Special Meeting of Stockholders on August 10, 2015.
The Merger Agreement provides OM Group stockholders with a cash price of $34.00 per share, representing an approximately 28% premium above OM Group’s closing share price on May 29, 2015, the last trading day prior to the announcement of the merger.“We are pleased that both ISS and Glass Lewis have recommended that our stockholders vote FOR the acquisition of the Company by Apollo. We look forward to our stockholders’ support for the transaction at our Special Meeting of Stockholders on August 10,” said Joe Scaminace, Chairman and Chief Executive Officer of OM Group.
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