by
Barbara Kram, Editor | February 05, 2008
Michael Harper, Chairman of Whatman, added, "The board of directors of Whatman believes that it has delivered a very satisfactory outcome for Whatman shareholders, employees and customers. I would like to thank the management team for their tremendous efforts over the past months not only during the discussions with potential acquirers but also in delivering a strong operational and financial performance in the business."
It is intended that the transaction will be implemented by way of a scheme of arrangement under UK law. The transaction has been recommended unanimously by the directors of Whatman, who have agreed to vote their shares in favor of the transaction. The largest shareholder of Whatman, Hermes Pensions Management Ltd., with approximately 15% of the outstanding shares of Whatman, has also agreed to vote in favor of the transaction. It is expected that the transaction will be completed in the second quarter of 2008.
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