GREENWOOD VILLAGE, Colo.—First Data Corp. shareholders on Tuesday overwhelmingly approved a $26 billion acquisition of the money transaction processing company by an affiliate of Kohlberg Kravis Roberts & Co.
At least 98 percent of shareholders who cast ballots voted in favor of the proposal during a special meeting in New York, the company said. The acquisition is expected to close in the third quarter.
The privately held equity firm offered $34 a share, a premium of about 26 percent over First Data’s closing price on March 30.
Shares of First Data rose 22 cents to $32.35 a share in morning trading.
Based in this Denver suburb, First Data processes electronic money transactions from such items as credit, debit and check cards.
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