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March 6, 2014 /PRNewswire/ -- Pactera Technology International Ltd. (Nasdaq: PACT) ("Pactera" or the "Company"), a global consulting and technology services provider strategically headquartered in
China, today announced that at an extraordinary general meeting held today, the Company's shareholders voted to approve the proposal to authorize and approve the previously announced Agreement and Plan of Merger dated as of
October 17, 2013 (the "Merger Agreement"), among the Company, BCP (
Singapore) VI Cayman Acquisition Co. Ltd. ("Parent"), BCP (
Singapore) VI Cayman Financing Co. Ltd. ("Midco"), and BCP (
Singapore) VI Cayman Merger Co. Ltd. ("Merger Sub"), the plan of merger (the "Plan of Merger") and the transactions contemplated thereby. 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.
Approximately 99% of the Company's outstanding common shares (the "Shares") entitled to vote were present in person or by proxy at today's extraordinary general meeting. Of the Shares present in person or by proxy at the extraordinary general meeting, approximately 89% were voted in favor of the proposal to authorize and approve the Merger Agreement and any and all transactions contemplated by the Merger Agreement, including the merger. A two-third majority of Shares present and voting in person or by proxy at the extraordinary general meeting was required for approval.
The parties expect to complete the merger as soon as practicable, subject to the satisfaction or waiver of the conditions set forth in the Merger Agreement. If the merger is completed, the Company will continue its operations as a privately held company and, as a result of the merger, the American depositary shares, each representing one Share (the "ADSs"), will no longer be listed on the NASDAQ Global Select Market and the American depositary shares program for the ADSs will terminate.