Kaiser Ventures Inc., the former Kaiser Steel Corp. reborn as a waste management company, announced plans to convert into a limited liability company by folding into recently formed Kaiser Ventures LLC.
Under the terms of the deal, shareholders of Kaiser Ventures would receive $10 plus one Class A unit in Kaiser Ventures LLC for each share held.
After the merger, Kaiser Ventures LLC would hold the assets of Kaiser Ventures Inc., which include interests in water, land, recycling and solid waste assets.
The deal is subject to shareholder approval and the timing is dependent on the asset sales currently pending.
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