Shaw shareholders approve acquisition

Staff -- Home Textiles Today, 1/8/2001 12:00:00 AM

DALTON, GA -Shaw Industries Inc. shareholders at a special meeting approved the company's acquisition by an investor group led by Berkshire Hathaway Inc. The acquisition was expected to become effective Jan. 8.

Shareholders of Shaw, a major manufacturer of tufted broadloom carpet, will receive $19 in cash for each share of common stock that they own at the time of the merger.

Beginning on or about Jan. 9, 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.