Florida-based diversified holding firms BFC Financial Corporation and Woodbridge Holdings Corporation have completed their previously announced merger. As a result of the merger, which was approved by each of BFC’s and Woodbridge’s shareholders on September 21, 2009, Woodbridge became a wholly-owned subsidiary of BFC.
Reportedly, each outstanding share of Woodbridge’s Class A Common Stock was automatically converted into the right to receive 3.47 shares of BFC’s Class A Common Stock. Woodbridge’s Class A Common Stock will no longer be publicly traded, and Woodbridge intends to file a certification on Form 15 to deregister its Class A Common Stock under the Securities Exchange Act of 1934 and suspend its public reporting obligations.
American Stock Transfer & Trust Company has been appointed to serve as exchange agent for the merger. Woodbridge has said that shareholders should not surrender their stock certificates until they receive the letter of transmittal and related instructions from the exchange agent.
