Allied reported its Signal Cos. stock ownership.
Allied now owns 42.4 million shares, or 31.7% of San Diego-based Signal Cos.’ voting stock. Twenty million shares were acquired through a stock-swap agreement that gave Signal 15 million shares, or about 15%, of Allied’s outstanding voting shares. An Allied spokeswoman said the remaining shares were acquired through Allied’s previously announced tender offer. The companies will seek shareholder approval of the merger at Sept. 18 board meetings.
Sign up for Essential California
The most important California stories and recommendations in your inbox every morning.
You may occasionally receive promotional content from the Los Angeles Times.
