NEW YORK, Oct. 10, 2022 (GLOBE NEWSWIRE) — Pzena Investment Management, Inc. PZN (“PZN”) announced today that it has received all regulatory approvals required under the merger agreement to complete the proposed transaction announced on July 26, 2022.
The transaction is expected to close in the fourth quarter of 2022, subject to required PZN shareholder approvals and the satisfaction of other customary closing conditions.
The merger agreement was unanimously approved by a select committee of independent and disinterested directors after careful consideration and a robust negotiation process. The committee concluded that the transaction is in the best interests of the holders of PZN’s Class A common stock. On the recommendation of the special committee, the board of directors of PZN approved the transaction.
The Board of Directors recommends that stockholders vote FOR acceptance of the Merger Agreement and the other proposals described in the Proxy Statement whereby Pzena becomes a private company and holders of PZN Class A Common Stock will receive $9.60 per share in cash. A special meeting of shareholders to vote on the transaction will be held virtually on October 27, 2022 at 10:00 a.m. Eastern Time.
Important information for investors
The record date for the special meeting is September 16, 2022. Shareholders of record as of the close of business on the record date are entitled to vote at the special meeting. Investors and stockholders may obtain a copy of the proxy statement and other relevant documents filed by Pzena from the SEC’s website, www.sec.govor by visiting the Investor Relations section of Pzena’s website, www.pzena.com.
Instructions for attending the webcast and voting procedures are included in the final proxy statement for investors. There are a number of ways to vote and it is important for investors to understand their options. Regardless of whether investors attend the special meeting or not, the special committee recommends voting “FOR”…
