INX Stockholders Approve Proposed Presidio Merger
29 Dezembro 2011 - 2:45PM
Business Wire
INX Inc. (NASDAQ: INXI; “INX”) today announced that at a meeting
held earlier today that its stockholders approved the proposal to
adopt the previously announced merger agreement, dated November 1,
2011, under which Presidio, Inc. (“Presidio”) will acquire all of
the outstanding common stock of INX.
At the special meeting of stockholders, there were 7,340,543
shares voted by proxy or in person, representing 74.7% of INX’s
total outstanding shares as of the December 1, 2011 record date.
73.7% of the total outstanding shares of common stock of INX, as of
the record date, were voted to approve the proposal to adopt the
merger agreement, which represented 98.7% of the shares that were
voted at the special meeting.
The consummation of the acquisition of INX by an affiliate of
Presidio remains subject to the satisfaction or waiver of a number
of customary closing conditions set forth in the merger agreement
and discussed in detail in the definitive proxy statement on
Schedule 14A filed with the Securities and Exchange Commission
by INX on December 5, 2011.
Upon consummation of the merger, INX stockholders will receive
$8.75 in cash for each share of INX common stock. The transaction
is expected to close on December 30, 2011.
Raymond James & Associates has acted as financial advisor
and Mayer Brown LLP has acted as legal advisor to INX’s Board of
Directors in connection with the transaction. Weil, Gotshal &
Manges LLP has acted as legal advisor to Presidio.
ABOUT INX
INX Inc. (NASDAQ: INXI) is a leading U.S. provider of IP based
unified communications and data center/cloud infrastructure
solutions for enterprise organizations. Through its suite of
technology offerings, INX provides organizations with advanced
architecture solutions that also focus on the enabling
infrastructure. Services are centered on the design, implementation
and support of network infrastructure, wireless, security, unified
communications, and cloud computing solutions incorporating both
data center and desktop virtualization. Customers include
enterprise organizations such as corporations, as well as federal,
state and local governmental agencies. Because of its focus,
expertise and experience, INX believes it delivers superior results
for its customers. Additional information about INX can be found on
the Web at www.INXI.com.
ABOUT PRESIDIO
Presidio is a leading provider of professional and managed
services for advanced IT solutions. Presidio addresses its clients’
complete information technology lifecycle – enabling clients to
plan, design, implement, test and operate their technology
investments. Presidio's comprehensive portfolio includes data
center/virtualization, unified communications/collaboration,
security, mobility and contact center technology solutions as well
as managed services. Holding the highest industry certifications
from partners such as Cisco, EMC, HP, IBM, NetApp, VMware and
Microsoft, Presidio is well-positioned to meet the growing needs of
organizations migrating to advanced technologies. Presidio also
offers clients an extensive suite of financing solutions, including
leasing. For more information visit: www.Presidio.com.
SAFE HARBOR STATEMENT:
The statements contained in this press release that are not
statements of historical fact, including, but not limited to,
statements identified by the use of terms such as "anticipate,"
"appear," "believe," "could," "estimate," "expect," "hope,"
"indicate," "intend," "likely," "may," "might," "plan,"
"potential," "project," "seek," "should," "will," "would," and
other variations or negative expressions of these terms, including
statements related to expected benefits from the announced
transaction are "forward-looking statements" within the meaning of
the Private Securities Litigation Reform Act of 1995 and involve a
number of risks and uncertainties. Such risks include failure to
satisfy the conditions of the proposed transaction, including
failure to obtain the required approvals of INX’s stockholders; the
costs and expenses associated with the proposed transaction;
contractual restrictions on the conduct of INX’s business included
in the merger agreement; the potential loss of key personnel,
disruption of INX’s business or any impact on INX’s relationships
with third parties as a result of the proposed transaction; any
delay in consummating the proposed transaction or the failure to
consummate the proposed transaction; and the outcome of, or
expenses associated with, any litigation which may arise in
connection with the proposed transaction. Additional information
about risk factors are contained in INX’s most recent filings with
the SEC on Forms 10-K and 10-Q. The actual results of the future
events described in the forward-looking statements in this document
could differ materially from those stated in the forward-looking
statements due to numerous factors. INX expressly disclaims any
obligation or undertaking to update or revise any forward-looking
statement contained herein to reflect any change in the INX
expectations with regard thereto or any change in events,
conditions or circumstances upon which any statement is based.
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