Trimble Announces Approval of Merger by @Road Stockholders and Completion of Transaction
SUNNYVALE, CA – The stockholders of @Road, Inc. have approved and adopted the Agreement and Plan of Merger, dated Dec. 10, 2006, by and among Trimble, @Road, and Roadrunner Acquisition Corp., and approved the merger. Stockholders holding approximately 72 percent of the total number of shares of @Road issued, outstanding, and entitled to vote at the meeting voted in favor of the agreement and the merger.
Following the approval of @Road stockholders, Trimble completed its acquisition of @Road for a total purchase price of approximately $493.1 million. Under the terms of the agreement and Trimble’s previously announced determination of the merger consideration, @Road common stockholders will receive $5.00 in cash and 0.0447 shares of Trimble common stock for each outstanding share of @Road common stock.
With the closing of the transaction, trading in @Road common stock on the NASDAQ stock market ceased. Trimble will promptly arrange for a letter of transmittal to be sent to each registered @Road stockholder that will inform such stockholder where to deliver @Road stock certificates in order to receive the merger consideration.