Warrantech Corporation Stockholders Meeting to Be Held January 3, 2007
BEDFORD, Texas --Warrantech Corporation, an independent provider of service contracts and after-market warranties, said it's postphoning its special meeting of stockholders relating to the proposed merger between Warrantech and an affiliate of H.I.G. Capital Partners III L.P. from tomorrow, Dec. 28 to January 3, 2007 due to regulatory reasons.
Warrantech expects the merger to close in January 2007. If the merger is approved and closes, Warrantech's common stockholders will receive $0.75 in cash for each share of common stock they own.
In addition, Warrantech announced that Institutional Shareholder Services Inc. (“ISS”) has recommended that Warrantech stockholders vote in favor of the merger. ISS is widely recognized as one of the nation’s leading independent proxy voting and corporate governance advisory firms. Its analysis and recommendations are relied upon by hundreds of major institutional firms, mutual funds and fiduciaries throughout the United States.