Green Dot Acquisition Approved by Shareholders, Nearing Completion
GDOT sits 42% above its 52-week low of $9.31.
Summary
Shareholders of Green Dot and CommerceOne have approved the pending acquisition of Green Dot. This critical vote moves the transaction closer to completion, following the definitive proxy statement filed on May 8th for a merger with CommerceOne and an associated $690 million sale. The approval also comes after an 8-K filed on June 16th addressed lawsuits related to the merger. This shareholder endorsement significantly de-risks the deal's finalization.
At the time of this announcement, GDOT was trading at $13.20 on NYSE in the Finance sector, with a market capitalization of approximately $748.2M. The 52-week trading range was $9.31 to $15.41. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.