Briefs…Walter Industries Inc. and Mueller Water Products Inc.
Walter Industries Inc. and Mueller Water Products Inc. announced the closing of the initial public offering of Mueller Water Products' Series A common stock. The closing included the full exercise by the underwriters of the option to purchase 3.75 million additional Series A shares to cover over-allotments, for a total of 28.75 million Series A shares at $16 per share. Walter Industries continues to hold all of the 85.85 million Series B shares outstanding. The aggregate net proceeds to Mueller Water Products, after underwriters' discount, were $432.4 million.