Bitstream (BITS) Get DoJ Approval in Merger with Monotype
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Bitstream Inc. (Nasdaq: BITS) reports that the United States Department of Justice has closed its inquiry into the proposed merger between Bitstream and Monotype Imaging Holdings Inc.
As previously announced, Bitstream has fixed March 8, 2012 as the record date for the spin-off (the “Spin-Off”) distribution of its wholly-owned subsidiary, Marlborough Software Development Holdings Inc. (“MSDH”). On March 14, 2012, each owner of Bitstream Class A Common Stock will receive a distribution of one share of MSDH Common Stock for each share of Bitstream Class A Common Stock that they owned as of the close of trading on the Nasdaq Capital Market on the Record Date.
Bitstream’s stockholders will vote to approve the Merger at a special meeting of stockholders on March 19, 2012 (the “Special Meeting”). Subject to such stockholder approval and satisfaction or waiver of all closing conditions to the Merger, it is expected that the Merger will be completed immediately following the Special Meeting on March 19, 2012.
As previously announced, Bitstream has fixed March 8, 2012 as the record date for the spin-off (the “Spin-Off”) distribution of its wholly-owned subsidiary, Marlborough Software Development Holdings Inc. (“MSDH”). On March 14, 2012, each owner of Bitstream Class A Common Stock will receive a distribution of one share of MSDH Common Stock for each share of Bitstream Class A Common Stock that they owned as of the close of trading on the Nasdaq Capital Market on the Record Date.
Bitstream’s stockholders will vote to approve the Merger at a special meeting of stockholders on March 19, 2012 (the “Special Meeting”). Subject to such stockholder approval and satisfaction or waiver of all closing conditions to the Merger, it is expected that the Merger will be completed immediately following the Special Meeting on March 19, 2012.
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