First Data shareholders approve KKR takeover deal
31 July 2007 | 1731 views | 0
Source: First Data
First Data Corp. (NYSE: FDC) today announced that its shareholders approved the merger agreement with an affiliate of Kohlberg Kravis Roberts & Co. (KKR). Of the shares that were voted, over 98% were cast in favor of the merger.
Upon the closing of the merger, the Company's shareholders will be entitled to receive $34.00 in cash, without interest, for each share of First Data common stock held.
"I am very pleased to receive such broad support for this transaction from our shareholders," said Chairman and CEO, Ric Duques. "With most of the necessary conditions now having been met, we are well on our way to closing this transaction, as expected, in the third quarter."