DynCorp International Inc. (NYSE: DCP) stockholders have approved the merger agreement with certain affiliates of Cerberus Capital Management.
The firm released the following statement:
“The affirmative vote of the holders of a majority of the outstanding shares of Class A common stock, par value $0.01 per share, of the Company (the ‘Common Stock’), was required to approve the proposal to adopt the merger agreement. According to the final tally of shares of Common Stock voted, approximately 88 percent of the outstanding shares of Common Stock of the Company as of the close of business on May 24, 2010 voted to approve the proposal to adopt the merger agreement.
“As a result of the merger contemplated by the merger agreement, the company will become a wholly owned subsidiary of an entity formed on behalf of certain affiliates of Cerberus.
“Subject to the satisfaction or waiver of certain conditions set forth in the merger agreement and discussed in detail in the Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission by the Company on May 17, 2010, the Company expects to close the merger on July 7, 2010.”