As of press time, stockholders had not yet voted on whether to accept the merger agreement or decline it; the vote was to be taken at the annual meeting on Jan. 25.
Jacuzzi Settles Stockholder Suits Regarding Merger
March 1, 2007
Jacuzzi Brands announced that it has reached an agreement in principle to settle four class-action stockholder lawsuits, which were filed just days after the company announced a proposed merger with an Apollo Management subsidiary last fall. Under the terms of the agreement, which must be approved by the Court of Chancery of the State of Delaware, the company has agreed to amend the merger agreement in order to settle all claims raised or could be raised by the plaintiffs.