Mimecast Shareholders Approve Permira Transaction
M
imecast Limited (NASDAQ:MIME) announced today at the company’s special meeting that its shareholders voted to approve the company’s pending acquisition by funds advised by Permira.
“I thank our shareholders for their strong support of this transaction and of Mimecast throughout our company’s history,” said Peter Bauer, chairman and chief executive officer of Mimecast. “With this significant milestone now behind us, we look forward to completing the transaction with Permira and delivering immediate and premium value to our shareholders. As a private company supported by Permira, we will be well positioned to continue to strengthen the cybersecurity and resilience of organizations around the world.”
Based on a preliminary tabulation of the shareholder vote, approximately 99.76% of votes cast were in favor of the proposed transaction, representing approximately 75.30% of all outstanding shares.
The final voting results on the proposals voted on at the special meeting will be set forth in a Form 8-K filed by Mimecast with the U.S. Securities and Exchange Commission.
Under the terms of the previously announced transaction, funds advised by Permira will acquire all outstanding ordinary shares of Mimecast for $80.00 per share in cash. The transaction is expected to close in the first half of 2022, subject to regulatory approvals. Upon completion of the transaction, Mimecast will become a privately held company and the ordinary shares of Mimecast will no longer be listed on any public market.