SunGard stockholders approve acquisition of the company

SunGard has announced that at the Company's 2005 Annual Meeting of Stockholders held in Philadelphia, PA, the stockholders of the company voted to adopt the merger agreement providing for the acquisition of SunGard by a consortium of private equity investment firms including Silver Lake Partners, Bain Capital, The Blackstone Group, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts & Co. L.P., Providence Equity Partners and Texas Pacific Group.

SunGard announced on March 28th, 2005 a definitive agreement with an entity owned by the private equity firms, regarding the acquisition of the company. 

The transaction is expected to be completed on or about August 11th, 2005, subject to the satisfaction or waiver of closing conditions. Under the terms of the merger agreement, SunGard stockholders will be entitled to receive $36 per share in cash, without interest.

•Date: 29th July 2005 • Region: US/World • Type: Article •Topic: BC markets
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