- Converge Technology Solutions (TSX: CTS, OTCQX: CTSDF) shareholders approve H.I.G. Capital acquisition with 98.85% vote.
- The deal offers a cash consideration of C$6.00 per share, excluding certain rollover shares.
- Final court approval expected on April 16, 2025, with transaction completion by April 22, 2025.
Converge Technology Solutions Corp. (TSX: CTS, OTCQX: CTSDF) announced that its shareholders have overwhelmingly approved the acquisition by H.I.G. Capital during a special meeting held on April 10, 2025. The resolution received a remarkable 98.85% approval from the voting shareholders and 98.71% support from minority shareholders, excluding participants in the rollover equity agreement.
The acquisition will provide shareholders with a cash consideration of C$6.00 per share, except for shares held by certain Rollover Shareholders. The meeting saw active participation, with 131,318,378 votes cast, representing 69.63% of the outstanding shares.
Converge will seek final approval from the Ontario Superior Court of Justice on April 16, 2025. The arrangement is anticipated to be completed by April 22, 2025, marking a significant transition for the company.
