AKRON (June 21) — Myers Industries Inc. shareholders will convene July 23 at the company´s Akron headquarters to vote on Goldman, Sachs & Co.´s proposal to purchase the plastics and rubber products manufacturer for $1.07 billion, or $22.50 per share.
Under the proposal announced April 24, Goldman Sach´s investment arm, GS Capital Partners, will buy all of Myers´ outstanding shares and assume or repay $276 million in debt.
Myers´ board of directors already unanimously approved the agreement. Members of the Myers family — owners of about 19 percent of the shares — also back the proposal.
Myers Industries has annual revenues of about $780 million.