ROCHESTER, N.Y.--(BUSINESS WIRE)--Sept. 8, 2006--Zapata Corporation (NYSE: ZAP) today announced it has signed an agreement with its majority-owned subsidiary Omega Protein Corporation (NYSE: OME) for Omega Protein’s repurchase of 9,268,292 of the 14,501,000 Omega Protein shares owned by Zapata for $47.5 million, or $5.125 per share, payable in immediately available funds. At the closing of the transaction, Zapata’s two representatives, Avram Glazer and Leonard DiSalvo, will resign from Omega’s Board of Directors and Zapata will grant Omega a proxy to vote its remaining shares, subject to certain conditions.
