Young Innovations Announces Shareholder Approval Of Merger With Affiliates Of Linden Capital Partners
ST. LOUIS, Jan. 30, 2013 /PRNewswire/ -- Young Innovations, Inc. (Nasdaq: YDNT) ("Young" or the "Company") announced that, at a special meeting of shareholders held today, its shareholders voted to adopt the Agreement and Plan of Merger, dated as of December 3, 2012, providing for the acquisition of the Company by an affiliate of Linden Capital Partners. Linden Capital Partners is a Chicago-based private equity firm that focuses on middle market leveraged buyout investments in the healthcare and life science industries.
Approximately 98.96% of the shares voting at today's special meeting of shareholders voted in favor of the adoption of the merger agreement, which represented approximately 90.06% of the Company's total outstanding shares of common stock as of the January 2, 2013 record date. A quorum of 91.01% of the Company's total outstanding shares of common stock as of the January 2, 2013 record date voted at the meeting.
Upon consummation of the transaction, the Company's shareholders will receive $39.50 in cash for each share of the Company's common stock. The transaction is expected to close on January 31, 2013, subject to the satisfaction of certain customary closing conditions as set forth in the Agreement and Plan of Merger and discussed in detail in the definitive proxy statement filed with the Securities and Exchange Commission by Young on January 3, 2013 and supplemented on January 22, 2013.
About Young Innovations, Inc.:Young develops, manufactures and markets supplies and equipment used by dentists, dental hygienists, dental assistants and consumers. The Company's consumables product offering includes disposable and metal prophy angles, prophy cups and brushes, dental micro-applicators, moisture control products, infection control products, dental handpieces (drills) and related components, endodontic systems, orthodontic toothbrushes, flavored examination gloves, children's toothbrushes, and children's toothpastes. In addition, the Company offers a line of diagnostic products that includes panoramic X-ray machines and related supplies. The Company believes it is a leading U.S. manufacturer or distributor of prophy angles and cups, liquid surface disinfectants, dental micro-applicators and obturation units designed for warm, vertical condensation.
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