New Orleans-Shermen WSC Acquisition Corp., a special-purpose acquisition company, on May 28 announced the completion of its acquisition of the Westway bulk liquid storage and liquid animal supplement businesses of ED&F Man Holdings Ltd (GM Dec. 1, 2008). In connection with the acquisition, Shermen changed its name to Westway Group Inc. Shermen (now known as Westway) expects to set a record date in the next several days with respect to the previously announced $1.00 per share special dividend payable to each holder of its common stock as of the record date. “The management of Westway are very excited about the merger with Shermen.,” said Peter Harding, Westway’s new CEO. “It gives Westway an excellent platform to materially grow its bulk liquid storage and liquid supplement businesses.” Francis P. Jenkins, Jr., founder and chairman, noted, “Westway is an excellent company that will reap strong benefits from its new status as a public company.”
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