Textile Service News
 
Angelica Shareholders OK Merger
 
Angelica Corp. officials recently announced that shareholders of common stock in the St. Louis-based company have overwhelmingly endorsed a merger of Angelica with a company formed by Lehman Brothers Merchant Banking. The merger was approved at a special shareholder meeting in which more than 99% of the shares voted were cast in favor of the measure.
 
The merger agreement calls for the acquisition of all outstanding shares of Angelica stock at $22 per share in cash. Angelica stock, which until recently was available on ...