Shareholders of Young Innovations have voted to adopt the agreement and plan of merger providing for the acquisition of the company by an affiliate of private equity firm Linden Capital Partners.
Approximately 98.96 per cent voted in favour of the adoption of the merger agreement, which represented approximately 90.06 per cent of the company’s total outstanding shares of common stock as of the 2 January record date.
A quorum of 91.01 per cent of the company’s total outstanding shares of common stock as of the 2 January record date voted at the meeting.
Upon consummation of the transaction, the company’s shareholders will receive USD39.50 in cash for each share of the company’s common stock.
The transaction is expected to close on 31 January 2013, subject to the satisfaction of certain customary closing conditions as set forth in the agreement and plan of merger and discussed in detail in the definitive proxy statement filed with the Securities and Exchange Commission by Young on 3 January and supplemented on 22 January.
