Andromeda Acquisition Corp. has announced the expiration of the offering period of its offer to buy all the outstanding shares of common stock in US dairy firm Galaxy Nutritional Foods.
The offering period expired at 5:00pm, Eastern time, on 28 May 2009.
Based upon a preliminary tally by Continental Stock Transfer & Trust Company, the depositary for the tender offer, around 9.9 million shares had been validly tendered by 28 May 28.
Combined with the shares already owned by Mill Road Capital and Galaxy Partners, the shares total around 90% of the company’s outstanding common stock.
Any shares validly tendered during the subsequent offering period will be immediately accepted for payment, and tendering shareholders will be paid $0.36 per share, in cash and without interest.
