CRUZAN: THE ABSOLUT RUM?

Cruzan International’s board of directors is holding a shareholders meeting March 17 to discuss the possible merger deal with Absolut Spirits. Absolut, a subsidiary of Swedish company Vin & Spirit, acquired a controlling 63.6% of Cruzan’s stock this past September. Cruzan chief and president Jay Maltby approves the merger, saying, “The board of directors and the special committee both unanimously approved the merger agreement and the merger and both recommend that you vote for approval.” As of late, five members of Cruzan’s board of directors resigned after the merger recommendation was announced, and four new directors were appointed in October by Absolut.