US: DigitalGlobe has announced its preliminary results that its shareowners overwhelmingly voted to approve the company’s proposed merger with MacDonald, Dettwiler and Associates (MDA).
Approximately 93% of the shares represented and voting at the meeting voted in favor of the merger. More than 53 million, 81%, of DigitalGlobe’s outstanding shares were voted at the meeting. Final results of the vote will be reported in a Form 8-K as required by applicable SEC rules.
“We are pleased with the strong support we received from shareowners for the merger of DigitalGlobe and MDA,” said Jeffrey R. Tarr, DigitalGlobe CEO. “This marks an important milestone in bringing together our two companies. Upon completion, this combination will expand our capabilities, increase our scale and diversify our revenue, creating powerful solutions for customers, greater value for shareowners and new opportunities for team members.”
MDA separately announced today that its shareowners also overwhelmingly voted to approve the issuance of MDA common shares to the holders of DigitalGlobe stock and certain equity awards in connection with the merger at a special meeting of MDA shareholders.
As previously announced, the transaction is expected to close in or shortly after the third quarter of 2017, subject to approval from the Committee on Foreign Investment in the United States (CFIUS) and other customary approvals and closing conditions.