A. O. Smith Corporation, a Delaware corporation (“Issuer”), has filed an application with the Securities and Exchange Commission (“Commission”), pursuant to Section 12(d) of the Securities Exchange Act of 1934 (“Act”) and Rule 12d2-2(d) thereunder, to withdraw its Class A Common Stock, $5.00 par value (“Security”), from listing and registration on the American Stock Exchange LLC (“Amex” or “Exchange”).
The Board of Directors (“Board”) of the Issuer unanimously approved a resolution on February 14, 2002 to withdraw the Issuer's Security from listing on the Amex. In making the decision to withdraw its Security from the Amex, the Board considered the following: (i) The substantial costs associated with dual trading; (ii) the Company's common stock is traded on the New York Stock Exchange, Inc. (“NYSE”); and (iii) the Company does not believe that continued listing on the Amex provides sufficient benefit to the Company and the shareholders of the Security to outweigh these disadvantages.
The Issuer stated in its application that it has met the requirements of Amex Rule 18 by complying with all applicable laws in effect in the state of Start Printed Page 47412Delaware, in which it is incorporated, and with the Amex's rules governing an issuer's voluntary withdrawal of a security from listing and registration. The Issuer's application relates solely to the Security's withdrawal from listing on the Amex and shall not affect its obligation to be registered under Section 12(b) the Act.
Any interested person may, on or before August 2, 2002, submit by letter to the Secretary of the Securities and Exchange Commission, 450 Fifth Street, NW., Washington, DC 20549-0609, facts bearing upon whether the application has been made in accordance with the rules of the Amex and what terms, if any, should be imposed by the Commission for the protection of investors. The Commission, based on the information submitted to it, will issue an order granting the application after the date mentioned above, unless the Commission determines to order a hearing on the matter.Start Signature
For the Commission, by the Division of Market Regulation, pursuant to delegated authority.
Jonathan G. Katz,
[FR Doc. 02-18081 Filed 7-17-02; 8:45 am]
BILLING CODE 8010-01-P