The shareholders of Aldabra 2 Acquisition (stock symbol: [t]AII[/t] ) have approved the acquisition of Boise Cascade's packaging and paper manufacturing business:
Aldabra 2 Acquisition Corp. Announces Stockholder Approval for Acquisition of Boise Paper and Packaging Assets
Tuesday February 5, 11:33 am ET
- Company Plans to Change Name to Boise Inc. -
- Ticker Symbols of Common Stock and Warrants to Change to BZ and BZ.WS, Respectively -
NEW YORK--(BUSINESS WIRE)--Aldabra 2 Acquisition Corp. (AMEX: AII.U, AII, AII.WS, Aldabra ) announced today that its stockholders have approved its acquisition of Boise Cascade, LLC’s packaging and paper manufacturing businesses(“Boise”). The vote to approve the merger took place today at Aldabra’s special meeting of stockholders. Aldabra anticipates the transaction to close during the last week of February 2008.
Aldabra plans to change its name to Boise Inc. and list its common stock and warrants for trading on the New York Stock Exchange under the new symbols BZ and BZ.WS, respectively, upon the consummation of the acquisition. The acquisition is subject to customary closing conditions and the completion of Aldabra’s previously announced financing being arranged by Goldman Sachs Credit Partners LP and Lehman Brothers.
“We are happy with the performance of the company and the growth prospects of Boise Inc. as a standalone public company,” said Alexander Toeldte, the designated CEO of Boise Inc. “The paper market dynamics remain positive, and our business continues to perform very well. Additionally, we are beginning to see positive results from the acquisitions and investments we have made over the past 24 months. We are pleased with the momentum we have in the business as we enter the public company arena.”
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