Cdw (NASDAQ:CDWC)
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CDW Corporation (NASDAQ: CDWC), a leading provider of technology
products and services to business, government and education, announced
that its shareholders voted at a special meeting held today to approve
the merger agreement providing for the acquisition of CDW by VH
Holdings, Inc., which upon closing of the merger will be controlled by
investment funds affiliated with Madison Dearborn Partners, LLC and
Providence Equity Partners Inc. Of the approximately 78 percent of
shares entitled to vote at the special meeting that actually were voted,
approximately 94 percent of those shares were voted in favor of approval
of the merger agreement. Shareholder approval satisfies a condition to
the completion of the transaction, which remains subject to satisfaction
of other closing conditions. As previously disclosed, CDW expects to
complete the merger in the second half of the third quarter or early in
the fourth quarter of 2007.
Under the terms of the merger agreement, following consummation of the
merger, CDW’s shareholders will be entitled to
receive $87.75 in cash, without interest, for each share of common stock
of CDW that they own immediately prior to the effective time of the
merger.
About CDW
CDW®, ranked No. 342 on the FORTUNE 500, is a
leading provider of technology solutions for business, government and
education. CDW is a principal source of technology products and services
including top name brands such as Acer, Adobe, APC, Apple, Cisco, EMC,
Fujitsu, HP, IBM, Lenovo, Microsoft, Panasonic, Quantum, Samsung, Sony,
Symantec, ViewSonic and Xerox. CDW's direct model offers customers
one-on-one relationships with knowledgeable account managers and access
to approximately 820 on-staff engineers and advanced technology
specialists who customize solutions for customers’
complex technology needs. CDW also provides same-day product shipping
and post-sales technical support.
CDW was founded in 1984 and as of June 30, 2007, employed approximately
5,880 coworkers. In 2006, the company generated sales of $6.8 billion.
For more information, visit CDW.com.
Forward-Looking Statements
Statements about the expected timing, completion and effects of the
proposed merger between CDW and a subsidiary of VH Holdings, Inc. and
all other statements in this press release other than historical facts,
constitute forward-looking statements within the meaning of the safe
harbor provisions of the Private Securities Litigation Reform Act of
1995. Readers are cautioned not to place undue reliance on these
forward-looking statements, each of which is qualified in its entirety
by reference to the following cautionary statements. Forward-looking
statements speak only as of the date hereof and are based on current
expectations and involve a number of assumptions, risks and
uncertainties that could cause actual results to differ materially from
those projected in the forward-looking statements. CDW may not be able
to complete the proposed merger because of a number of factors,
including, among other things, the failure of financing or the failure
to satisfy the remaining closing conditions. Other risks and
uncertainties that may affect forward-looking statements are described
in the reports filed by CDW with the SEC under the Securities Exchange
Act of 1934, as amended, including without limitation CDW’s
Annual Report on Form 10-K for the year ended December 31, 2006, and the
definitive proxy statement dated July 13, 2007, relating to the special
meeting of shareholders that was held on August 9, 2007.
For more information about CDW:
Visit CDW on the Internet at http://www.cdw.com.
Contact CDW Investor Relations via the Internet at investorrelations@cdw.com
or by telephone at 847-419-6328.
CDW is a registered trademark and CDW@work is a trademark of CDW
Corporation. Other company and product names may be trademarks of their
respective owners.