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 Montedison S.p. A. definitively agreed to buy all of the publicly held shares of Erbamont N.V. for $37 each.
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 Montedison now owns about 72% of Erbamont's shares outstanding.
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 The companies said 
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the accord was unanimously approved by a special committee of Erbamont directors unaffiliated with Montedison.
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 Under the pact, Montedision will make a $37-a-share tender offer for Erbamont stock outstanding.
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 The tender offer will be followed by the sale of all of Erbamont's assets, subject to all of its liabilities, to Montedison.
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 Erbamont will then be liquidated, 
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with any remaining Erbamont holders receiving a distribution of $37 a share.
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 The companies said 
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the transaction is being structured this way 
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because the laws of the Netherlands Antilles, 
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under which Erbamont is organized, 
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don't provide for merger transactions.
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