The Transaction, which is currently expected to close around the middle of 2012, is subject to the approval of the Merger Agreement and the Transaction by an affirmative vote of shareholders (i) representing two-thirds or more of the ordinary shares present and voting in person or by proxy at a meeting of CRIC's shareholders which will be convened to consider the approval of the Merger Agreement and the Transaction, and (ii) holding a majority of the outstanding shares of CRIC other than the Excluded CRIC Shares, as well as certain other customary closing conditions. E-House has advised CRIC's board of directors that it intends to vote in favor of the approval of the Merger Agreement and the Transaction. There can be no assurance that the Transaction will be completed by or around the middle of 2012 or at all. If completed, the Transaction will result in CRIC becoming a privately-held and wholly-owned subsidiary of E-House and CRIC ADSs will no longer be listed on the NASDAQ Global Select Market.Skadden, Arps, Slate, Meagher & Flom LLP is serving as U.S. legal advisor to E-House and Conyers Dill & Pearman is serving as Cayman Islands legal advisor to E-House.
E-House Enters Into Definitive Agreement To Acquire All Outstanding Shares Of CRIC
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