Smucker shareholders approve Folgers proposal
October 17, 2008
by Jeff Gelski
ORRVILLE, OHIO — Shareholders of the J.M. Smucker Co. on Oct. 16 approved a proposal to issue Smucker common shares in the merger of The Folgers Coffee Co. with a wholly owned subsidiary of Smucker and to authorize the transactions relating to the merger. The shareholders also approved the adoption of amended articles of incorporation of Smucker in connection with the merger to provide all Smucker shareholders with equal voting rights. Smucker and Procter & Gamble in June agreed to merge the Folgers coffee business into the J.M. Smucker Co. The transaction is expected to close in early November.