ICS Magazine

Shaw Shareholders Approve Berkshire Hathaway Acquisition

January 4, 2001
Dalton, Ga. (PRNewswire) -- During a special meeting, Shaw Industries, Inc. shareholders approved the previously announced acquisition of Shaw Industries, Inc. by an investor group led by Berkshire Hathaway Inc. The acquisition is expected to become effective on January 8, 2001. As a result, shareholders of Shaw Industries, Inc. will receive $19 in cash for each share of common stock that they own at the time of the merger.

Beginning on or about January 9, 2001, shareholders of record at the effective time of the merger will be provided with letters of transmittal for delivery of their stock certificates to the exchange agent in order to receive the merger consideration. Further, Shaw will be dropped from the S&P MidCap 400 Index on Jan. 8, 2001