Document aB2w42JrDqoJQrg6D5gQzND9R

/ Detteya-vd Co.mi orr 0\. ** cgm^m--mt* i || ** ;i9,,oje*** NM| e*M C.-m:oce tO >Ussachvsctt July 23, 1954 To the Shareholders of Dewey ar.d Almy Chemical Company We want to inform you immediately of a development of interest to you. It is summerizec in a statement being issued to tne press tnis afternoon, which reacs as follows; "The Directors of W. R. Grace It Co. and of Dewey and Almy Chemical Co. are informing tneir respective snarenoiders of a pro posed merger, it was announced today by J. Peter Grace, Jr. ar.d Hugh S. Ferguson, the companies' presidents. The merger would provide Dewey and Almy shareholders with one snare of W. R. Grace k Co. common stock for each share of Dewey and Almy stock. Methods of aecomplisnmg the merger are being studied oy ootn companies so that a plan can oe presented to snarenoiders as soon as possible for their approval. "Mr. Grace and Mr. Ferguson stated t.-.at if tne plan is con summated, Dewey and Almy will continue to operate as an autono mous unit witn its headquarters at Camoridge. Massachusetts with no change expected in tne personnel or in tne policies under wmen they work." We are intensively exploring a numser ot metr.ocs of accom plishing a consolidation of interests, naving m mmc :.-.e cesiraoi.ity of simplicity, speed and the avoidance of unr.ecsa*i.-y expense. As soon as a plan is worked out, we will comn.t;^:; .; ;j yc_. W. R. Grace k Co., as you prooably know, is extensively engaged in the chemical business m this country, as well as being active in oanxmg, export and import, air transportation; snipping anc South American manu facturing. Its stock is listed on the MewYorx Stocx Exchange and ciosec on JulyXtat 138-5/ 8 a share. We will be glad to sena you a copy of its latest usual report if you wisn one.' For_the Directors KSF EB Presicenr