Buyout of RiskMetrics by MSCI approved in shareholder vote; deal expected to close Tuesday
By APThursday, May 27, 2010
Shareholders ok MSCI’s purchase of RiskMetrics
NEW YORK — RiskMetrics Group shareholders voted overwhelmingly to approve a sale of the company to MSCI Inc., the two business advisory firms said Thursday.
The $1.55 billion cash and stock deal was announced March 1. It is expected to close Tuesday.
More than 88 percent of outstanding shares were represented by votes in favor of the plan.
The companies plan to combine RiskMetrics with MSCI’s subsidiary Crossway Inc., and continue to operate risk management and corporate governance advisory services under the RiskMetrics name.
In afternoon trading, shares of RiskMetrics Group Inc. added 15 cents to $21.59. MSCI shares gained 57 cents, or 2 percent, to $29.26.
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