e-Rewards Gets Thumbs Up for Research Now Buy
US-based e-Rewards has been given the go-ahead to acquire UK-headquartered online panel specialist Research Now by more than 90% of the latter’s shareholders.
At a general meeting held earlier today, a majority of Research Now shareholders voted in favour of approving the deal, which was first announced in October.
Terms of the cash acquisition value Research Now at around £85.1m, which means that Research Now shareholders will receive £4.30 in cash per share.
All the resolutions relating to the proposed acquisition have now been approved, although implementation of the scheme remains subject to official sanctioning at two hearings which are expected to take place on 10 and 14 December 2009.
Following completion of the sale, Research Now’s CEO Chris Havemann will assume overall management responsibility for the enlarged e-Rewards Group, as CEO and a member of the e-Rewards Board.
Web sites: www.e-rewardsresearch.com and www.researchnow.co.uk .