Stockholders at Air Transport Services Group (ATSG) have voted to approve the proposed merger with investment firm Stonepeak.
Pictured: Joe Hete, Executive Chairman of ATSG
Under the terms of the merger agreement, holders of ATSG’s common shares will receive $22.50 per share in cash when the merger closes.
The deal was announced in November last year and valued at $3.1 billion.
Subject to the satisfaction or waiver of customary closing conditions, including receiving regulatory approvals, the transaction is expected to close in the first half of this year.
When the transaction has been completed, ATSG will become a privately held company and its share will not be traded or listed on NASDAQ.