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Following the close of the transaction, and after giving effect to conversion of preferred shares into common subject to a stockholder vote, there are expected to be 38.3 million total shares of common stock outstanding.
If at least three of these four major stockholder vote in favor on 20 July, ZK Pelagonija's Board of Creditors will be allowed to launch talks with interested buyers.
Finally, Broadridge Investor Communication Solutions served as the Inspector of Elections and tabulated and verified the results of the stockholder vote.
Genoptix previously had terminated the deal due to an inability to secure the stockholder vote required to approve and consummate the acquisition.
Singh further states that because the vestigial waste exception has long had little real-world relevance, when a stockholder vote invokes the business judgment rule standard of review, dismissal is typically the result.
Prior to adoption of Section 251(h) of the DGCL, which became effective on August 1, 2013 (and was subsequently amended effective August 1, 2014), unless an acquirer could obtain 90 percent of the target's voting stock necessary to effectuate a short-form merger under Section 253 of the DGCL or negotiate for a "top-up" option to get to get to 90 percent, a back-end merger required a stockholder vote. Prior to Section 251 (h)'s adoption, 23 percent of M&A deals involving public companies used the traditional two-step structure to close.
(NYSE: SWY) announced the preliminary results of its stockholder vote at the company's 2014 Annual Meeting of Stockholders held today.
That advisory group, called ISS Proxy Advisory Services, recommended stockholders withhold their votes because the USA Truck board adopted a shareholder rights plan in November without a stockholder vote scheduled within 12 months of the adoption.
NetApp and Data Domain appear to be heading toward a $1.9 billion acquisition, with NetApp announcing Monday that it has received "all regulatory clearances to proceed with [the] Data Domain acquisition" and that a Data Domain stockholder vote is scheduled for Aug.14.
stockholders elected each of the nine directors by a vote percentage of 97 percent or better, approved the 2007 equity and incentive award plan, approved the amended and restated capital performance bonus plan, and approved the appointment of Deloitte & Touche LLP to serve as the Company's independent auditors for the 2007 fiscal year with a stockholder vote held yesterday at the company's annual meeting.
As a result of the transaction, which was approved by stockholder vote, including the support of the Mark Hughes Family Trust, Herbalife stockholders will receive $19.50 in cash for each share of Herbalife Class A and Class B common stock.