US 1 shareholders OK merger; common stock deregistered

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Updated Aug 16, 2011

US 1 Industries Inc. on Monday, Aug. 15, announced that on Aug. 12 at a special meeting of the shareholders of the company, the company’s shareholders voted to adopt its Feb. 18 agreement and plan of merger, under which US 1 will continue as a wholly owned subsidiary of Trucking Investment Co. Inc.. On the same day, the Valparaiso, Ind.-based company filed articles of merger with the Secretary of State of the State of Indiana, pursuant to which the merger became effective.

Upon the merger, each outstanding share of the company’s common stock was converted into the right to receive $1.43 per share in cash, without interest and less any applicable withholding taxes, excluding treasury shares owned by the company, shares held by parent and any of its subsidiaries, and shares held by shareholders that perfect their dissenters’ rights under Indiana law.

As a result of the merger, US 1’s common stock ceased to be eligible to trade on the Over-the-Counter Bulletin Board and became eligible for termination of registration pursuant to the Securities Exchange Act of 1934. Accordingly, the company filed a Certification and Notice of Termination on Form 15 with the Securities Exchange Commission in order to deregister its common stock under the Exchange Act.