Monday, September 18, 2006

Constellation Converts Shares

CONSTELLATIONLOGO150-w.jpgConstellation Brands has converted a type of its shares.

Late last week Constellation said that its outstanding depositary shares have been automatically changed into shares of Constellation’s 5.75% Class A Common Stock.

The depositary shares had each represented 1/40th of the company’s 5.75% Series A Mandatory Convertible Preferred Stock. Each depositary share was converted at a rate of 1.4638 shares of common stock, the company said.

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