ATLANTA, Jan 28, 2009 /PRNewswire-FirstCall via COMTEX/ -- Mueller Water Products, Inc.
(NYSE: MWA.B, MWA) announced that its stockholders approved a proposal to
simplify the Company's capital structure by converting its Series B common
stock (NYSE: MWA.B) into its Series A common stock (NYSE: MWA) pursuant to a
provision for that conversion in the Company's Restated Certificate of
Incorporation.
As a result of the conversion, each outstanding share of Series B common
stock will be converted into one share of Series A common stock. Trading of
the Series B common stock on the New York Stock Exchange is expected to cease
prior to the open of trading on January 29, 2009.
All stockholders will have the same economic ownership of Mueller Water
Products that they had prior to the conversion. Each share of common stock
will be entitled to one vote. Class B stockholders had eight votes per share
under the dual-class structure, which was established prior to Mueller Water
Products' 2006 initial public offering.
About Mueller Water Products
Mueller Water Products is a leading North American manufacturer and
marketer of infrastructure and flow control products for use in water
distribution networks and treatment facilities. Its broad product portfolio
includes engineered valves, hydrants, ductile iron pipe and pipe fittings,
which are used by municipalities, as well as the residential and non-
residential construction, oil and gas, HVAC and fire protection industries.
With latest 12 months net sales of $1.9 billion, the Company is comprised of
three operating segments: Mueller Co., U.S. Pipe and Anvil. Based in Atlanta,
Georgia, the Company employs approximately 6,500 people. Mueller Water
Products Series B common stock and Series A common stock trade on the New York
Stock Exchange under the ticker symbols MWA.B and MWA, respectively. For more
information about Mueller Water Products, please visit the Company's Web site
at www.muellerwaterproducts.com.
Investor Contact:
Martie Edmunds Zakas
Sr. Vice President - Strategic Planning & Investor Relations
770-206-4237
[email protected]
Media Contact:
John Pensec
Director - Corporate Communications and Public Affairs
770-206-4240
[email protected]
SOURCE Mueller Water Products, Inc.
