Andre Yoskowitz
17 Feb 2010 18:14
After months of delays, Google's proposed $134 million merger with video software compression company On2 has finally been accepted by On2 shareholders and the company says the deal should close on Friday.
From the press release:
Under the terms of the merger agreement, as amended, each outstanding share of On2 Common Stock (other than shares owned by (a) Google, Oxide Inc., Oxide LLC or On2 and (b) any On2 stockholders who are entitled to and who properly exercise appraisal rights under Delaware law) will be cancelled and extinguished and will be automatically converted into the right to receive (1) $0.15 in cash; (2) 0.0010 of a share of Google Class A Common Stock; and (3) cash in lieu of any fractional share of Google Class A Common Stock (after aggregating all fractional shares of Google Class A Common Stock issuable to such On2 stockholders), without interest.
Google raised their offer by 20 percent last month.