Wilshire Enterprises, Inc. Announces Consummation of Amended Merger Transaction with J&J Brothers Holdings Inc. for $3.38 Per Share

EAST HANOVER, N.J., Feb. 19, 2016 /PRNewswire/ -- Wilshire Enterprises, Inc. ("Wilshire") today announced that on February 18, 2016, Wilshire amended the Agreement and Plan of Merger (the "Merger Agreement"), dated November 24, 2015, between J&J Brothers Holdings Inc. ("Buyer") and Wilshire.  The amended agreement provides for consideration of $3.38 per issued and outstanding share of Wilshire common stock and was approved by Wilshire stockholders at the February 18, 2016 special meeting of Wilshire stockholders.  The merger with Buyer has since been consummated.  Wilshire stockholders should be receiving a letter of transmittal and/or other relevant documents for the payment of their merger consideration shortly.

Inquiries: Paul Schulman and Dan Sullivan, MacKenzie Partners, Inc., 105 Madison Avenue, New York, New York 10016, (212) 929-5500.

SOURCE Wilshire Enterprises, Inc.