From Earlier: Advance America Stockholders Approve Acquisition By Grupo Elektra
Advance America, Cash Advance Centers, Inc. (NYSE: AEA) announced that at a special meeting of stockholders held earlier today, the Company's stockholders voted to approve the previously announced merger agreement and merger with an indirect subsidiary of Grupo Elektra S.A. de C.V.. Under the terms of the merger agreement, an indirect subsidiary of Grupo Elektra will acquire all of the outstanding shares of common stock of the Company for $10.50 per share in cash.
The merger was approved by holders of 47,720,833 shares of the Company's outstanding common stock, representing 99.7% of the shares voted on the transaction and 76.2% of the total shares entitled to vote. 124,166 shares of the Company's common stock were voted against the merger.
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