Iron Mountain's Planned Acquisition Of Recall Gets A Boost With Shareholders Approval

Iron Mountain Inc IRM disclosed that Recall Holdings Limited shareholders have given their overwhelming approval for the proposed acquisition. Now, the acquisition needs the approval of the Federal Court of Australia.

Iron Mountain said it expects the transaction to close on May 2. Recall Holdings disclosed that 99.9 percent of the shareholders approved the scheme of merger. The company added that 93 percent of shareholders were present at the meeting.

The company indicated the second hearing of the Australian court to approve the Transaction is scheduled for April 21 at 9:15 a.m AEST.

Shares of the company rose 3.49 percent on Monday.