Blackboard (BBBB) Shareholder Approve Previously Announced Merger Agreement
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Blackboard Inc. (NASDAQ: BBBB) announced that its shareholders approved the proposal to adopt the previously announced merger agreement, dated June 30, 2011, providing for the acquisition of Blackboard by an investor group led by affiliates of Providence Equity Partners.
At the special meeting of shareholders, there were 28,576,765 shares voted by proxy or in person, representing 81% of Blackboard's total outstanding shares as of the August 3, 2011 record date. 24,761, 688 shares, or 70% of the total outstanding shares of common stock of Blackboard as of the record date, were voted to approve the proposal to adopt the merger agreement, which represented 87% of the shares that were voted on the proposal at the special meeting
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At the special meeting of shareholders, there were 28,576,765 shares voted by proxy or in person, representing 81% of Blackboard's total outstanding shares as of the August 3, 2011 record date. 24,761, 688 shares, or 70% of the total outstanding shares of common stock of Blackboard as of the record date, were voted to approve the proposal to adopt the merger agreement, which represented 87% of the shares that were voted on the proposal at the special meeting
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