SXC Health Solutions Corp. (SXCI,SXC.TO: Quote) announced that its shareholders voted in favor of a proposal to approve the issuance of SXC common shares to stockholders of Catalyst Health Solutions Inc. (CHSI), pursuant to the previously announced merger agreement among SXC, two wholly-owned subsidiaries of SXC and Catalyst.
Over 99% of the SXC common shares represented in person or by proxy at the SXC special meeting, representing approximately 80% of the total number of SXC common shares issued and outstanding as of the record date, voted in favor of the issuance of SXC common shares to Catalyst stockholders.
At a special meeting of Catalyst stockholders, also held earlier in the day, over 99% of the Catalyst shares represented in person or by proxy at the special meeting, representing approximately 88% of the total number of shares of Catalyst common stock issued and outstanding as of the record date, voted in favor of the proposal to adopt the merger agreement.
As per the terms of the merger agreement previously announced on April 18, 2012, Catalyst stockholders will receive $28.00 in cash without interest and 0.6606 of a SXC common share for each Catalyst share they own upon closing of the transaction.
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by RTT Staff Writer
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