Olin shareholders approve $5B chlor-alkali, vinyls merger with Dow Chemical

Olin Corp. announced today that its shareholders overwhelmingly approved the necessary stock measures to complete the pending merger with Dow Chemical's US chlor-alkali and vinyl, global chlorinated organics and global epoxy businesses.

The transaction is still subject to customary closing conditions. The merger is expected to be completed early next month.

"I am very pleased to report this morning that Olin shareholders overwhelmingly approved the issuance of Olin common shares and other actions necessary to complete the Olin merger," said Joseph D. Rupp, Olin's CEO.  

"The strong support from shareholders was demonstrated by the percent of votes cast in favor of this transformative transaction," he added. "With this milestone successfully behind us, we look forward to closing the transaction early next month." 

The deal is valued at roughly $5 billion, according to news reports.