China-based Fushi Copperweld, Inc. (FSIN) issued an update with respect to the Agreement and Plan of Merger among the Company, Green Dynasty Limited, Green Dynasty Acquisition Inc. or "Merger Sub", and Green Dynasty Holdings Limited, pursuant to which Merger Sub will merge with and into the company and the company will continue as the surviving corporation and will be a wholly-owned subsidiary of Green Dynasty.
Fushi Copperweld said, "We expect to complete the Merger today, December 26, 2012. We are requesting that shares of the Company common stock cease trading on NASDAQ immediately prior to the opening of the market on December 27, 2012. We anticipate that the paying agent for the Merger will commence payment of the Merger consideration to stockholders beginning on December 27, 2012."
In June, Fushi Copperweld agreed to be taken private by affiliates of its chairman and co-CEO Li Fu and Abax Global Capital Limited for $9.50 per share in cash.
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