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.
“I am very pleased to receive such broad support for this transaction from our shareholders,” said First Data chairman and CEO, Ric Duques in a statement. “With most of the necessary conditions now having been met, we are well on our way to closing this transaction.”
Shares of First Data rose 22 cents to $32.35 a share in morning trading.
First Data processes electronic money transactions from such items as credit, debit and check cards.
