Internet Board
Internet Board
| Author | Click HERE for more info |
| Date | 00/07/25/16:00 |
| Crown Central sets Aug. 24 vote for Rosemore deal
Baltimore-based Crown Central Petroleum Corp. has set Aug. 24 at 10am as the date for a vote on its merger with Rosemore Inc., a holding company owned by the Rosenberg family that runs Crown and controls 45 percent of its shares. Rosemore is offering to pay $9.50 per share for the stock it doesn't already own. Privately held, St. Louis-based Apex Oil Co., which is also trying to acquire the refiner, has offered $10.50 a share. Crown's board supports the Rosemore deal because, according to a federal filing, it believes that the Apex offer has too many contingencies and because the Apex proposal could not be completed without Rosemore's approval. Rosemore, which has provided millions of dollars in financing for Crown, threatened to pull that support if its merger was defeated, according to the filing. Vote NO! Join us on the 24th. for a rally to stop the sale of Crown and demand an end of the 4 1/2 year lockout of 252 workers and their families. Call 410-837-7906 or email us at the above address to let us know that you will attend. |