International Absorbents Inc. (NYSE IAX) shareholders have approved a $4.75 per share buyout by private equity firm Kinderhook Industries. International Absorbants makes consumer and commercial products derived from recycled, renewable materials.
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Kinderhook Industries has agreed to acquire International Absorbents Inc. (NYSE: IAX) for approximately $30.38 million, or $4.74 per share (18.2% premium to yesterday’s closing price.). International Absorbents is a maker of environmentally-friendly pet care and industrial products.