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Letter to the Editor
Tuesday January 2
Valspar Corporation and Lilly Industries, Inc. Announce Completion of Merger
MINNEAPOLIS and INDIANAPOLIS --
The Valspar Corporation and Lilly Industries, Inc. have announced that their merger has been completed, and as a result Lilly Industries will become a wholly owned subsidiary of Valspar. As a result of the merger, each outstanding share of Lilly Industries Class A and Class B common stock will be converted into the right to receive $31.75 in cash, without interest.
Registered shareholders of Lilly Industries will receive notice and instructions from National City Bank, the payment agent, regarding the process to exchange their shares for the cash payment upon submission of customary documentation. Lilly Industries shareholders whose shares are held through banks, brokers and other depositary institutions will receive information about their holdings from those institutions.
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