XETA Technologies (XETA) Shareholders Approve Merger With PAETEC Holding
XETA Technologies, Inc. (Nasdaq: XETA) announced that its shareholders have approved the merger agreement entered into on February 8, 2011 between PAETEC Holding Corp. (Nasdaq: PAET) (PAETEC), Hera Corporation and XETA Technologies, pursuant to which PAETEC, through one of its subsidiaries, will acquire all of the outstanding common shares of XETA Technologies at a price of $5.50 cash per share.
More than seventy percent (70%) of the outstanding shares of XETA Technologies were represented at the special meeting of shareholders held earlier today, with approximately 99% of those shares voting in favor of the merger agreement.
Upon completion of the merger, XETA will become a private company, wholly-owned by a subsidiary of PAETEC Holding, and its common stock will no longer be traded on NASDAQ.
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More than seventy percent (70%) of the outstanding shares of XETA Technologies were represented at the special meeting of shareholders held earlier today, with approximately 99% of those shares voting in favor of the merger agreement.
Upon completion of the merger, XETA will become a private company, wholly-owned by a subsidiary of PAETEC Holding, and its common stock will no longer be traded on NASDAQ.
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