In a significant development, Whole Earth Brands, Inc. has announced the approval of a merger agreement by its shareholders. The special meeting held on Monday resulted in a decisive vote in favor of the merger with Ozark Holdings, LLC, with an overwhelming majority of 81.16% of eligible shares casting votes.
The proposal, which required a majority in voting power of the outstanding shares and a two-thirds majority of the unaffiliated shareholders, received 35,176,001 votes for and 180,035 against, with 19,040 abstentions. The affirmative outcome ensures that Whole Earth Brands will merge with Sweet Oak Merger Sub, LLC, a subsidiary of Ozark Holdings, and become a wholly owned entity under the parent company.
The merger agreement, initially dated February 12, 2024, was subject to stockholder approval, which has now been granted. The approval signifies a pivotal step in the consolidation process for Whole Earth Brands, a company incorporated in Delaware and headquartered in Chicago, Illinois. The company, which is listed on the NASDAQ Stock Market under the ticker symbols FREE for common stock and FREEW for warrants, operates in the sugar and confectionery products sector.
In other recent news, Lineage, a well-known cold storage real estate investment trust (REIT), has announced plans to raise up to $3.85 billion through an initial public offering (IPO) in the United States. The firm, backed by private equity firm Bay Grove Capital, has set a price range for its 47 million shares between $70 and $82 each. This announcement comes at a time when the IPO market in the U.S. is experiencing a resurgence, attributed to optimism for a gentle economic downturn. Lineage has selected the Nasdaq Global Select Market for its listing. A consortium of over 20 Wall Street banks, including Morgan Stanley (NYSE:MS), Goldman Sachs (NYSE:GS), BofA Securities, J.P. Morgan Securities, and Wells Fargo (NYSE:WFC) Securities, are managing the offering process, with KKR Capital Markets acting as the lead financial advisor for the IPO. These are recent developments in the company's strategic moves.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.