Heartland Payment Systems (HPY) stockholders overwhelmingly voted to approve the proposed merger with Global Payments (GPN). About 29.7 million shares were voted in favor of the merger proposal.
The favorable vote represents approximately 99% of the total Heartland shares which voted on the merger proposal and 80% of the total outstanding Heartland share count.
The transaction remains subject to customary closing conditions, and, in accordance with the merger agreement, the merger is expected to close no later than three business days from today.
HPY’s net revenue of $214.1 million for 4Q/15 was up 13.7% year-on-year (YOY) driven by organic growth as well as acquisitions completed during the year.
Atlanta-based Global Payments (GPN) reported first calendar quarter (1Q/16) [fiscal third quarter] gross revenues grew 2.2% year-on-year (YOY), while net income rose 10.4% YOY. Revenues for North America increased 1.1% YOY.
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