07 SEPTEMBER 2011China Aluminium Network
Leucadia And Mueller Sign Deal
Edited by : AL CIRCLE
1 min read
Leucadia National Corporation and Mueller Industries Inc. recently signed a Standstill Agreement, which is due to expire on September 2, 2013.
Mueller Industries Inc. is a leading manufacturer of copper tube and fittings; brass and copper alloy rod, bar and shapes; aluminum and brass forgings; aluminum and copper impact extrusions; plastic fittings and valves; refrigeration valves and fittings along with fabricated tubular products. It primarily operates in the United States, Canada, Mexico, Great Britain, and China.
As per the agreement signed, Leucadia can hold up to 27.5% of Mueller’s outstanding common stock and can appoint at most two directors to Mueller’s Board of Directors. Besides, Leucadia is not permitted to sell Mueller’s shares to any party holding more than 4.9% of the latter’s common stock or engage into any corporate activities without permission from Mueller’s appointed directors.
Mueller Industries Inc. is a leading manufacturer of copper tube and fittings; brass and copper alloy rod, bar and shapes; aluminum and brass forgings; aluminum and copper impact extrusions; plastic fittings and valves; refrigeration valves and fittings along with fabricated tubular products. It primarily operates in the United States, Canada, Mexico, Great Britain, and China.
As per the agreement signed, Leucadia can hold up to 27.5% of Mueller’s outstanding common stock and can appoint at most two directors to Mueller’s Board of Directors. Besides, Leucadia is not permitted to sell Mueller’s shares to any party holding more than 4.9% of the latter’s common stock or engage into any corporate activities without permission from Mueller’s appointed directors.
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