Genstar Capital is to acquire global provider of health outcomes research services eResearchTechnology for $8.00 per share in cash. Completion of the acquisition is subject to the satisfaction of closing conditions.
eResearchTechnology Inc. (ERT) said Friday its stockholders approved the proposal to adopt the Agreement and Plan of Merger, pursuant to which the company will be acquired by affiliates of private equity firm Genstar Capital LLC for $8.00 per share in cash.
About 77.5% of the shares of eResearchTechnology common stock issued and outstanding as of the close of business on May 18, 2012, the record date for the special meeting, were represented in person or by proxy at the special meeting.
Approximately 99.2% of the shares represented in person or by proxy at the special meeting, constituting approximately 77.0% of the total number of shares of eResearchTechnology common stock as of the record date, voted in favor of the proposal to adopt the merger agreement.
The completion of the acquisition of ERT by Genstar is subject to the satisfaction of closing conditions.