Shareholders Approve NDS(NNDS) Acquisition
Written by: Aaron Katsman | January 15, 2009
In a near unanimous vote, shareholders approves the acquisition of NDS by News Corp, paving the way for the company to go private. Company officials still believe that the agreed upon $63/share price will hold up even though the company has struggled somewhat with the global economic downturn.
According to a Globes report: “News Corporation and funds controlled by private equity firm Permira Advisers will pay $63 per share, and would together own the entire company. The shares would be cancelled and NDS will become a private company. News Corporation will own 49%, and the Permira funds would own approximately 51% of NDS. ”
The next hurdle the deal faces will be in UK courts and by the end of the first week of Feb. we should know the outcome.
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