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Lance stockholders OK merger with Snyder’s

Stockholders for snack-food company Lance approved a merger between the Charlotte-based company and Hanover, Pa.-based Snyder’s of Hanover by more than 96 percent Thursday.

If Snyder’s shareholders approve the merger Friday, the merger could be finalized by Monday.

“We are very pleased with the overwhelmingly positive support our stockholders have shown for this merger,” David Singer, president and CEO of Lance, said in a statement.

Lance stockholders also approved proposals to change the name of the company from Lance Inc. to Snyder’s-Lance Inc. and appoint Peter Brubaker, Carl Lee Jr., John Denton, and Michael Warehime to the company’s board of directors.

Holders of Lance stock as of Dec. 3, 2010, will be paid a special dividend of $3.75 per share after the merger is completed.

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