Aldabra 2 Acquisition Corp. (AMEX: AII, AII.U, AII.WS) has announced that its stockholders have approved the company’s plan to acquire Boise Cascade, LLC’s packaging and paper manufacturing businesses. The vote took place today at its special meeting of stockholders and the company anticipates this transaction to close during the last week of February 2008.
There will be some changes in the stock as a result. For starters, Aldabra will change its name to Boise Inc. It will also list its common stock and warrants for trading, but it will leave AMEX for an NYSE-listing under the new symbols BZ and BZ.WS. The acquisition is subject to customary closing conditions and the completion of Aldabra’s previously announced financing being arranged by Goldman Sachs Credit Partners LP and Lehman Brothers.
Aldabra shares are now up 1.6% today as it will move away from a SPAC to an operating company. Since coming public this last summer has traded in a range of roughly $9.00 to $9.90.
Jon C. Ogg
February 5, 2008