Advertisement

Beatrice Cos. holders approved an offer.

Share

They accepted a $6.2-billion leveraged buy-out by Kohlberg Kravis Roberts & Co., a privately held investment firm. Beatrice said approximately 93.8 million common and preferred shares, or 81% of those entitled to be voted, were cast in approval of the buy-out. Beatrice said it expects the acquisition to be completed on April 17. Under terms of the buy-out, each of Beatrice’s common shares is to be exchanged for $40 in cash and $10 in preferred stock.

Advertisement