ID Watchdog (TSXV:IDW) has announced that shareholders have approved the acquisition of the company by Equifax (NYSE:EFX) pursuant to a merger with a wholly-owned subsidiary of Equifax for consideration of $63.3 million.
As quoted in the press release:
The Acquisition was approved by 96.2% of the votes cast at ID Watchdog’s extraordinary meeting of shareholders held earlier today. Under the terms of the Acquisition, ID Watchdog shareholders will receive cash consideration of U.S. $0.40 per Ordinary Share (the “Per Share Consideration”).
The Acquisition closed today (the “Effective Date”) and the Company’s Ordinary Shares will be delisted from the TSX Venture Exchange as soon as practicable following the Effective Date. Trading in the Company’s shares will be halted after the closing of trading today.
A payments administrator (the “Payments Administrator”) has been hired by the Company to facilitate payment of the Per Share Consideration. Shareholders or their custodians should expect to receive a letter from the Payments Administrator shortly following the Effective Date with instructions as to how to access an on-line portal to complete a letter of transmittal in order to receive payment of the Per Share Consideration.
ID Watchdog’s financial advisor is Headwaters MB. ID Watchdog’s legal advisors are Polsinelli PC, Fogler, Rubinoff LLP and Walkers. Equifax’s legal advisor is King & Spalding LLP.