EUGENE, Ore., June 22, 2007 (PRIME NEWSWIRE) -- PW Eagle, Inc. (Nasdaq:PWEI) today announced the completion of its merger with a wholly-owned subsidiary of J-M Manufacturing Company, Inc. PW Eagle stock will cease to trade on the NASDAQ Global Market at the close of regular trading hours today and will be delisted.
Under the terms of the merger agreement, PW Eagle shareholders are entitled to receive $33.50 per share in cash for each share of PW Eagle common stock that they hold. PW Eagle and J-M Manufacturing Company have appointed Wells Fargo Bank, N.A. as the paying agent for payment of the merger consideration. The paying agent will promptly mail letters of transmittal to PW Eagle shareholders with instructions regarding the surrender of their stock certificates in exchange for the merger consideration. Shareholders who hold shares in a brokerage account, and who are not shareholders of record, will not receive a letter of transmittal and will not need to take any action to exchange their shares as such exchanges will be handled by the broker.
The PW Eagle, Inc. company logo is available at http://www.primezone.com/newsroom/prs/?pkgid=2877