The approval satisfies one of the conditions to finalize the acquisition
SHFL shareholders approve merger agreement with Bally
2013-11-21
Reading time 40 seg
(US).- SHFL entertainment announced that at a special shareholders' meeting held last Tuesday, SHFL shareholders approved the previously announced Agreement and Plan of Merger, dated as of July 15, 2013, by and among SHFL, Bally Technologies, a Nevada corporation and Manhattan Merger Corp, a Minnesota corporation and an indirect wholly owned subsidiary of Bally providing for the merger of Merger Sub with and into SHFL.
More than 97% of the votes represented and cast at the meeting, or approximately 77.88% of the total outstanding common stock eligible to vote as of the October 15, 2013 record date, were voted in favor of the adoption of the Merger Agreement. Shareholders also approved the non-binding advisory proposal regarding Merger-related compensation with a vote of more than 92% of the votes represented and cast at the meeting.
Approval of the Merger Agreement by the shareholders satisfies one of the conditions required to finalize the acquisition. The transaction is still subject to required regulatory approvals and certain other customary closing conditions.
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