Reynolds and Reynolds Shareholders Approve Merger with Universal Computer Systems
The Reynolds and Reynolds Company has announced that its shareholders approved the company's merger agreement with Universal Computer Systems Inc., at a meeting of shareholders held today at company headquarters.
Dayton, Ohio—The Reynolds and Reynolds Company has announced that its shareholders approved the company’s merger agreement with Universal Computer Systems Inc., at a meeting of shareholders held today at company headquarters.
More than 87 percent of the outstanding combined shares of Class A common stock and Class B common stock that were eligible to vote were voted in favor of the transaction.
Completion of the transaction is expected to occur at the end of the week.
As announced on August 8, 2006, under the terms of the merger agreement, holders of Reynolds’ Class A common stock will receive $40 per share in cash. The transaction is valued at approximately $2.8 billion, including the assumption of Reynolds debt. The Company will continue business under the name The Reynolds and Reynolds Company, with the products and services of both Reynolds and UCS marketed under the Reynolds brand.
Reynolds will continue to have headquarters and principal operations in Dayton, Ohio.
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