Sales of Oregon companies inch toward closing


Respective shareholders approve mergers that still await regulatory approval.

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BY JACOB PALMER | DIGITAL NEWS EDITOR

StanCorp’s shareholders nearly unanimously voted to approve the company’s sale to Meiji Yasuda Life Insurance.

The merger awaits regulatory approval.

Jeff Hallin, StanCorp’s VP of investor relations and capital markets, said the company now awaits regulatory approval on the deal.

“The good news with this transaction structure is that we retain all of our subsidiaries, including Standard Insurance Company, which means we keep our Portland headquarters, The Standard brand, our employees as well as our products,” Hallin said. “The sale will not affect our product offerings.”

(SOURCE: Portland Business Journal)

The shareholders of the company that bought StanCorp voted in favor of the merger.

Leyard’s shareholders approved the deal on Nov. 9. Planar’s shareholders are slated to vote in a special meeting on Nov. 12. Under the proposed deal, Leyard will pay Planar shareholders $6.58 per share, which is a 42 percent premium over where the stock was trading.

Planar’s board of directors is recommending shareholders approve the deal.

(SOURCE: Portland Business Journal)

RELATED NEWS: Planar sold for $157M

 


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