Tobacco.org

DIMON Incorporated and Standard Commercial Corporation Announce Merger 

Independent leaf tobacco dealers DIMON Incorporated (NYSE: DMN - News) and Standard Commercial Corporation (NYSE: STW - News) today jointly announced that they have entered into a definitive merger agreement. Under the terms of the agreement, Standard Commercial common shareholders would receive three shares of DIMON common stock for each share of Standard Commercial common stock.

The combination of DIMON and Standard is expected to be accretive to earnings per share in the first full year after the merger as a result of significant cost savings and synergies and to drive profitable growth and build value over the long term by realizing enhanced economies of scale.

Jump to full article »