Cybex Announces Shareholder Approval of "Going Private" Merger
Business Wire - Wed Feb 06, 11:30AM CST
Cybex International, Inc. (NASDAQ: CYBI), a leading U.S. manufacturer of premium exercise equipment ("Cybex" or the "Company"), announced today that the proposed "going private" merger pursuant to which each of its outstanding shares of common stock - other than shares owned by its largest shareholder, UM Holdings, Ltd. ("UM"), and UM's subsidiaries and shareholders, which include John Aglialoro, Cybex's Chairman and CEO, and Joan Carter, a director of the Company - will be converted into $2.55 per share payable in cash, has been overwhelmingly approved at the Special Meeting of Shareholders held February 6, 2013. Approximately 84% of the outstanding shares of Cybex common stock were voted at the meeting, including over 68% of outstanding shares held by the public shareholders. Of the proxies received from the public shareholders, over 95% were voted in favor of the merger.
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