iSoft faces final day on the ASX

 

Shareholders and court approve CSC's $460m buy.

Australian e-health supplier iSoft will cease trading on the Australian stock exchange (ASX) today in the lead up to its $460 million buy-out by industry giant CSC.

The deal passed its final regulatory hurdle when it was approved by shareholders on Friday and by the Federal Court this week.

Court orders approving the deal were to be lodged with the Australian Securities and Investment Commission today.

According to iSoft’s statement to the ASX (pdf), investors holding iSoft shares and options as of 7pm on 26 July would be paid on 29 July, in accordance with to CSC’s offer.

All issued shares and options in iSoft would then be cancelled.

Shareholders in iSoft unanimously approved the proposal last Friday. Majority shareholder OCP also approved the deal, as did investors controlling 96.58 percent of non-OCP shares.

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