Quovadx (QVDX) Files Definitive Proxy Statement for Proposed Merger
Quovadx, Inc. (NASDAQ: QVDX) announced that it has filed with the Securities and Exchange Commission, and will soon mail to all Quovadx stockholders, its definitive proxy materials urging stockholders to vote "for" the previously announced merger of Quovadx, Inc. and a wholly owned subsidiary of Battery Ventures.
Following stockholder approval of the merger agreement, Quovadx shareholders of record as of May 29, 2007 will be entitled to receive $3.20 per share in cash for each share of Quovadx common stock owned, a 25 percent premium when compared to Quovadx's stock price of $2.55 on March 30, 2007 (the last trading day before the proposed merger was announced).
If the merger is approved, upon closing of the transaction, Quovadx, Inc. will be wholly owned by Battery Ventures; Quovadx stockholders will receive cash consideration for their shares of Quovadx stock; Quovadx will no longer be a public company and Quovadx common stock will no longer be quoted on The NASDAQ Global Market stock exchange.
Following stockholder approval of the merger agreement, Quovadx shareholders of record as of May 29, 2007 will be entitled to receive $3.20 per share in cash for each share of Quovadx common stock owned, a 25 percent premium when compared to Quovadx's stock price of $2.55 on March 30, 2007 (the last trading day before the proposed merger was announced).
If the merger is approved, upon closing of the transaction, Quovadx, Inc. will be wholly owned by Battery Ventures; Quovadx stockholders will receive cash consideration for their shares of Quovadx stock; Quovadx will no longer be a public company and Quovadx common stock will no longer be quoted on The NASDAQ Global Market stock exchange.
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