Posted in | News | Business

Shareholders Back Novelis's Merger with Hindalco

May 14 2007

Related Stories

Novelis Inc. announced today that at a special meeting of shareholders held today in Atlanta, Ga., its shareholders voted to approve the company's acquisition by Hindalco Industries Limited. Approximately 99.8 percent of the votes cast by shareholders were in favor of the transaction.

Under the terms of the transaction, Hindalco, through its subsidiary AV Metals Inc., will acquire Novelis for US$44.93 per common share in cash. Total enterprise value is estimated at US$6 billion, including debt. Upon completion of the arrangement, Novelis will become a subsidiary of Hindalco.

Hindalco and Novelis have received all required regulatory consents which are a condition to the completion of the transaction. The arrangement remains subject to final court approval under Canadian law. Novelis expects the transaction to be completed on May 15, 2007.

Tell Us What You Think

Do you have a review, update or anything you would like to add to this news story?

Leave your feedback
(Logout)
Your comment type
Submit
Defender™ Omega Handheld Raman Analyzer

Defender™ Omega Handheld Raman Analyzer

Ensure safe and rapid identification of explosives, chemical warfare agents, narcotics, and various chemicals using the Thermo Scientific Defender™ Omega Handheld Raman Analyzer. This highly versatile handheld analyzer allows for user-configurable scan profiles and expandable libraries, empowering users with flexible and customizable detection capabilities. Stay ahead with reliable and efficient chemical analysis in the palm of the hand.

From Thermo Fisher Scientific – Handheld Elemental & Radiation Detection

Sponsored Content

Editorial Highlights

The Current State of the Global Semiconductor Market

The Current State of the Global Semiconductor Market

The global semiconductor market has entered an exciting period. Demand for chip technology is both driving the industry as well as hindering it, with current chip shortages predicted to last for some time. Current trends will likely shape the future of the industry, which is set to continue to show

How are Graphene Batteries Made?

How are Graphene Batteries Made?

The primary distinction between graphene-based batteries and solid-state batteries lies in the composition of either electrode. Although the cathode is commonly changed, carbon allotropes can also be employed in fabricating anodes.

Newsletters you may be interested in

See all Newsletters »

Terms

While we only use edited and approved content for Azthena answers, it may on occasions provide incorrect responses. Please confirm any data provided with the related suppliers or authors. We do not provide medical advice, if you search for medical information you must always consult a medical professional before acting on any information provided.

Your questions, but not your email details will be shared with OpenAI and retained for 30 days in accordance with their privacy principles.

Please do not ask questions that use sensitive or confidential information.

Read the full Terms & Conditions.

Provide Feedback