AnthonyCea
Well-known member
Hellman & Friedman Capital is the proud new owner of Internet Brands, Inc., but the song remains the same with Bob Brisco getting an employment contract to run the company for the private equity firm.
http://investors.internetbrands.com/secfiling.cfm?filingid=1104659-10-63107
The majority shareholders (IdeaLab and Bill Gross) all voted in line as expected approving the sale of IB.
http://investors.internetbrands.com/secfiling.cfm?filingid=1104659-10-63107
The majority shareholders (IdeaLab and Bill Gross) all voted in line as expected approving the sale of IB.
At a special meeting of stockholders of the Company held on December 16, 2010, the Company’s stockholders voted on a proposal to adopt the Merger Agreement. There were 97,220,413 total votes present at the special meeting in person or by proxy. This number includes the votes of holders of 36,720,413 shares of Class A common stock, par value $0.001 per share (the “Class A Common Stock”), and 3,025,000 shares of Class B common stock, par value $0.001 per share (the “Class B Common Stock”). Each share of Class A Common Stock represented one vote, and each share of Class B Common Stock represented 20 votes. The proposal was approved by the following vote:
Class of Common Stock
Votes For Votes Against Abstentions Broker Non-Votes
Class A Common Stock
36,704,91314,3541,1460
Class B Common Stock
60,500,000000
In addition, the Merger Agreement was adopted by the holders of a majority of the outstanding shares of Class A Common Stock other than shares beneficially owned by Idealab Holdings, L.L.C., a Delaware limited liability company, Idealab, a California corporation, and certain other excluded parties.