Sugar Land-Balmoral Swan MergerSub, an affiliate of Balmoral Funds, has successfully completed the previously commenced cash tender offer to purchase all of the issued and outstanding shares of common stock of Trecora Resources (PCN, 16 May 2022, p 2). Under the terms of a merger agreement signed earlier this year, Balmoral will purchase Trecora for $9.81/share in cash, with a total transaction value of $247-million. The merger is expected to be completed on 27 June 2022. As a result of the tender offer and merger, Trecora will become a privately-held, indirect wholly-owned subsidiary of Balmoral, and Trecora's stock will cease trading on the New York Stock Exchange.
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