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Synthomer PLC

Omnova shareholders vote in favour of Synthomer’s proposed acquisition

Synthomer (LON:SYNT) noted yesterday’s announcement by OMNOVA Solutions Inc. that its shareholders have voted overwhelmingly in favour to approve Synthomer’s proposed acquisition. Shareholders from both companies have now voted in favour of the proposed transaction that was originally announced on 3rd July 2019.

The transaction received regulatory clearance from US authorities in August and remains subject to  merger clearances from the European Commission and in Turkey,  the processes for which are ongoing.

Synthomer continues to target completion of the transaction in late 2019, however, there can be no assurances regarding the timing of regulatory clearances which could delay completion to early 2020 and a further announcement will be made in due course.