Blue Coat Shareholders Approve Merger Agreement With Thoma Bravo
Blue Coat Systems, Inc. (NASDAQ: BCSI) announced the results of the company's special meeting of shareholders held earlier today. The Blue Coat shareholders voted to approve the previously announced merger agreement entered into on December 8, 2011 between Blue Coat and an investor group led by private equity investment firm Thoma Bravo, LLC, which investor group includes the Ontario Teachers' Pension Plan through its private investment department, Teachers' Private Capital. Under the terms of the agreement, the investor group led by Thoma Bravo will acquire all of the outstanding shares of common stock of the Company for $25.81 per share in cash. The transaction is expected to close on or around February 15, 2012.
Blue Coat shareholders also voted to approve, on an advisory basis, the agreements of Blue Coat and its named executive officers concerning compensation that relates to the merger agreement, together with the aggregate compensation that may be paid to such officers.
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