Shermen WSC Acquisition Corp., a special-purpose acquisition company, announced today that it has completed the acquisition of the Westway bulk liquid storage and liquid animal supplement businesses of ED&F Man Holdings Limited. The company also announced that it has changed its name to Westway Group, Inc.
Shermen (now known as Westway Group, Inc.) looks forward to setting a record date in the next several days for the previously announced $1.00 per share special dividend payable to each holder of its common stock as of the record date.
Peter Harding, Chief Executive Officer, stated, “The management of Westway are very excited about the merger with Shermen. It gives Westway an excellent platform to materially grow its bulk liquid storage and liquid supplement businesses.”
Francis P. Jenkins, Jr., founder and Chairman, added, “Westway is an excellent company that will reap strong benefits from its new status as a public company.”
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