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• Dimon to Acquire Standard Commercial for $670 Million in Stock 

Jump to full article: Dow Jones via IWon, 2004-11-08
Author: Jerry Abejo/ Dow Jones Newswires

Intro:

Dimon Inc. (DMN), the No. 2 tobacco dealer, plans to acquire the world's third-largest processor, Standard Commercial Corp. (STW), in a stock transaction the companies value at about $670 million.

Dimon, Danville, Va., said Monday that it expects the resulting cost savings to boost earnings after their first full year together. The company named its current Chief Executive and Chairman Brian Harker to tackle the same roles in the combined company, to be called DimonStandard Inc.

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