MELVILLE, N.Y. and DAVIDSON, N.C., Feb. 6, 2023 /PRNewswire/ -- MSC INDUSTRIAL SUPPLY CO. (NYSE: MSM), "MSC," "MSC Industrial" or the "Company," a leading North American distributor of a broad range of metalworking and maintenance, repair and operations (MRO) products and services, today confirmed it has received a proposal (the "Proposal") from its controlling shareholders, the Jacobson/Gershwind family, to exchange its high-voting Class B shares (10 votes per share) for Class A shares (1 vote per share) and eliminate the current dual-class share structure. The Proposal is that each Class B share be exchanged for 1.35 Class A shares. The Proposal states that the family expects to remain MSC's largest shareholder, whether or not the proposed transaction occurs.Read more at prnewswire.com
MSC INDUSTRIAL CONFIRMS RECEIPT OF PROPOSAL FROM CONTROLLING SHAREHOLDERS TO EXCHANGE HIGH-VOTE STOCK AND ELIMINATE DUAL-CLASS SHARE STRUCTURE
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