Metalico Closes Sale to Total Merchant
CRANFORD, NJ -- Sep 11, 2015 -- Metalico, Inc., an operator of scrap metal recycling facilities primarily in the eastern Great Lakes corridor, has completed the previously announced acquisition of the Company by Total Merchant Limited.
The Company had announced in June its acceptance of Total Merchant's all-cash offer of approximately $102 million at closing subject to the approval of its shareholders. The transaction was overwhelmingly endorsed by stockholders holding more than 92% of the shares voted, or 57% of Metalico's outstanding shares, at a special stockholders meeting convened earlier in the day for that purpose
Metalico, Inc. is a Ferrous as well as a Non-Ferrous scrap metal processor operating in New York, New Jersey, Ohio, Pennsylvania, West Virginia, and also in Mississippi.
We hold a high standard for customer service and aim to meet every one of our customers' needs.
Our corporate headquarters is located in Cranford, New Jersey. Metalico is a subsidiary of Total Merchant Limited.
Letter of Transmittal to Stockholders