CDW Shareholders Approve Merger with Affiliate of Madison Dearborn Partners, LLC and Providence Equity Partners Inc.
August 09 2007 - 7:45PM
Business Wire
CDW Corporation (NASDAQ: CDWC), a leading provider of technology
products and services to business, government and education,
announced that its shareholders voted at a special meeting held
today to approve the merger agreement providing for the acquisition
of CDW by VH Holdings, Inc., which upon closing of the merger will
be controlled by investment funds affiliated with Madison Dearborn
Partners, LLC and Providence Equity Partners Inc. Of the
approximately 78 percent of shares entitled to vote at the special
meeting that actually were voted, approximately 94 percent of those
shares were voted in favor of approval of the merger agreement.
Shareholder approval satisfies a condition to the completion of the
transaction, which remains subject to satisfaction of other closing
conditions. As previously disclosed, CDW expects to complete the
merger in the second half of the third quarter or early in the
fourth quarter of 2007. Under the terms of the merger agreement,
following consummation of the merger, CDW�s shareholders will be
entitled to receive $87.75 in cash, without interest, for each
share of common stock of CDW that they own immediately prior to the
effective time of the merger. About CDW CDW�, ranked No. 342 on the
FORTUNE 500, is a leading provider of technology solutions for
business, government and education. CDW is a principal source of
technology products and services including top name brands such as
Acer, Adobe, APC, Apple, Cisco, EMC, Fujitsu, HP, IBM, Lenovo,
Microsoft, Panasonic, Quantum, Samsung, Sony, Symantec, ViewSonic
and Xerox. CDW's direct model offers customers one-on-one
relationships with knowledgeable account managers and access to
approximately 820 on-staff engineers and advanced technology
specialists who customize solutions for customers� complex
technology needs. CDW also provides same-day product shipping and
post-sales technical support. CDW was founded in 1984 and as of
June 30, 2007, employed approximately 5,880 coworkers. In 2006, the
company generated sales of $6.8 billion. For more information,
visit CDW.com. Forward-Looking Statements Statements about the
expected timing, completion and effects of the proposed merger
between CDW and a subsidiary of VH Holdings, Inc. and all other
statements in this press release other than historical facts,
constitute forward-looking statements within the meaning of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Readers are cautioned not to place undue reliance on
these forward-looking statements, each of which is qualified in its
entirety by reference to the following cautionary statements.
Forward-looking statements speak only as of the date hereof and are
based on current expectations and involve a number of assumptions,
risks and uncertainties that could cause actual results to differ
materially from those projected in the forward-looking statements.
CDW may not be able to complete the proposed merger because of a
number of factors, including, among other things, the failure of
financing or the failure to satisfy the remaining closing
conditions. Other risks and uncertainties that may affect
forward-looking statements are described in the reports filed by
CDW with the SEC under the Securities Exchange Act of 1934, as
amended, including without limitation CDW�s Annual Report on Form
10-K for the year ended December�31, 2006, and the definitive proxy
statement dated July 13, 2007, relating to the special meeting of
shareholders that was held on August 9, 2007. For more information
about CDW: Visit CDW on the Internet at http://www.cdw.com. Contact
CDW Investor Relations via the Internet at
investorrelations@cdw.com or by telephone at 847-419-6328. CDW is a
registered trademark and CDW@work is a trademark of CDW
Corporation. Other company and product names may be trademarks of
their respective owners.
Cdw (NASDAQ:CDWC)
Historical Stock Chart
From Jun 2024 to Jul 2024
Cdw (NASDAQ:CDWC)
Historical Stock Chart
From Jul 2023 to Jul 2024