READING, Pa., Sept. 26 /PRNewswire-FirstCall/ -- Arrow International, Inc. (Nasdaq: ARRO) announced today the final tabulation of votes at its Annual Meeting of Shareholders held on September 20, 2007.
-- Proposal 1 -- Shareholders voted to adopt the merger agreement with
Teleflex Incorporated, with 99.8 percent of votes cast voting to
approve the merger agreement. Approval of the merger agreement
required a positive vote of a majority of shares voting on this
proposal. The receipt of this shareholder vote satisfies the final
condition necessary prior to closing the merger.
-- Proposal 2 -- All of Arrow's director nominees were re-elected, with
each receiving affirmative votes from in excess of 61.5 percent of
-- Proposal 3 -- Shareholders ratified the appointment of
PricewaterhouseCoopers LLP as the Company's independent accounting firm
with 99.8 percent of votes cast.
-- Proposal 4 -- Shareholders defeated a proposed age limit for directors
with 69.0 percent of the votes cast voting against the proposal.
As previously announced on July 23, 2007, Teleflex and Arrow entered into a definitive merger agreement, which was unanimously approved by both companies' Boards of Directors and provides for the payment to Arrow shareholders of $45.50 per share in cash without interest for each outstanding share of their Arrow common stock, representing a premium to shareholders of approximately 38.6% over the closing price of Arrow common stock on May 8, 2007, the last full trading day before the announcement of the Company's decision to explore strategic alternatives.
|SOURCE Arrow International, Inc.|
Copyright©2007 PR Newswire.
All rights reserved