ERT Announces Stockholder Approval of Merger
eResearchTechnology, Inc. (Nasdaq: ERT), a global technology-driven provider of health outcomes research services to biopharmaceutical sponsors and contract research organizations, announced today that at a special meeting of stockholders held this morning, its stockholders approved, among other things, the proposal to adopt the Agreement and Plan of Merger, dated as of April 9, 2012, pursuant to which ERT will be acquired by affiliates of Genstar Capital LLC, a leading middle market private equity firm for $8.00 per share in cash.
Approximately 77.5% of the shares of ERT common stock issued and outstanding as of the close of business on May 18, 2012, the record date for the special meeting, were represented in person or by proxy at the special meeting. Approximately 99.2% of the shares represented in person or by proxy at the special meeting, constituting approximately 77.0% of the total number of shares of ERT common stock issued and outstanding as of the record date, voted in favor of the proposal to adopt the merger agreement.
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