MergerMay 12, 2026, 04:22 PM
Marine Products Stockholders Approve MasterCraft Merger
AI Summary
Marine Products Corporation stockholders approved the Agreement and Plan of Merger with MasterCraft Boat Holdings, Inc. at a special meeting held on May 12, 2026. All related proposals, including the merger agreement and merger-related compensation, received the requisite votes. Additionally, the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 expired, satisfying a key condition precedent. The mergers are anticipated to close around May 15, 2026.
Key Highlights
- Stockholders approved the Merger Agreement Proposal with 30,470,005 votes For.
- Merger-Related Compensation Proposal was approved with 30,268,825 votes For.
- Adjournment Proposal was approved with 30,306,178 votes For, but was not needed.
- Approximately 87.46% of outstanding shares were present, constituting a quorum.
- The HSR Act waiting period expired on April 6, 2026, satisfying a key condition.
- The mergers are expected to close on or about May 15, 2026.