BEIJING, Feb. 25, 2014 /PRNewswire/ -- Pactera Technology International Ltd. (Nasdaq: PACT) ("Pactera" or the "Company"), a global consulting and technology services provider strategically headquartered in China, is pleased to announce that Institutional Shareholder Services Inc. ("ISS") and Glass Lewis & Co., LLC ("Glass Lewis") have recommended that Pactera shareholders vote for approval of the Company's agreement and plan of merger (the "Merger Agreement") dated October 17, 2013 under which the Company will be acquired by a consortium led by funds managed or advised by Blackstone (as defined below) for US$7.30 per common share (a "Share") or US$7.30 per American depositary share (an "ADS"), each representing one Share, of the Company (the "Transaction"). The Transaction has already obtained all necessary antitrust approvals under the PRC Anti-Monopoly Law, the Japanese Act on Prohibition of Private Monopolization and Maintenance of Fair Trade and the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976.
ISS and Glass Lewis are leading independent international proxy advisory firms and their voting analyses and recommendations are relied upon by thousands of major institutional investment firms, mutual funds and fiduciaries throughout the world.
The Company's extraordinary general meeting of shareholders (the "EGM") to consider and vote on, among other things, the Merger Agreement and the Transaction will be held on Thursday, March 6, 2014 at 10:00 a.m. (Beijing Time) at Building C-4, No. 66 Xixiaokou Road, Haidian District, Beijing 100192, the People's Republic of China. Shareholders of record as of the close of business in the Cayman Islands on February 12, 2014 will be entitled to vote at the EGM. The record date for ADS holders entitled to instruct Deutsche Bank Trust Company Americas, the ADS depositary, to vote the shares represented by the ADSs is the close of business in New York City on January 30, 2014.The Company's shareholders and ADS holders are encouraged to read the Company's definitive proxy materials in their entirety as they provide, among other things, important information regarding the Merger Agreement and the Transaction. The Company has also retained Ipreo Holdings LLC as its proxy solicitor to assist it in connection with its upcoming EGM. Shareholders and ADS holders who have questions about the Merger Agreement or the Transaction, need additional copies of the Company's proxy materials, or need assistance in voting their Shares are encouraged to contact Ipreo Holdings LLC by email at email@example.com (attention: Pactera Team) or by phone at +1 (888) 593-9546 (toll free) or +1 (212) 849-3880 (outside of the United States). The Transaction is subject to various closing conditions, including a condition that the Merger Agreement be approved by an affirmative vote of shareholders representing two-thirds or more of the Shares present and voting in person or by proxy as a single class at a meeting of the Company's shareholders convened to consider the approval of the Merger Agreement and the Transaction. If completed, the Transaction will result in the Company becoming a privately-held company and its ADSs will no longer be listed on the Nasdaq Global Select Market.