US: GSV and Wine Group reset merger date
The California winemaker Golden State Vintners (GSV) said today that it expects to close its merger with The Wine Group (TWG) on or about July 12, 2004. GSV previously anticipated to close the deal around the end of June.
The deal will see TWG acquire all of the shares of GSV's common stock at a cash price of US$8.25 per fully diluted share.
In a statement GSV said that it "feels that the revised timing of the closing will accommodate an orderly transition."
The agreement and plan of merger, between The Wine Group LLC, The Wine Group, Inc., Hawk Merger Sub, Inc. and GSV, will remain in effect until July 31, 2004.
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