US: Everlast shareholders approve Sports Direct merger
The iconic US boxing brand said that 2,664,794 shares, or over 65% of its total outstanding shares, voted in favour of the merger.
Approval had required a vote of at least a majority of Everlast's outstanding shares of common stock.
In June, Everlast terminated an agreement to be bought by an investment consortium headed by The Hidary Group for US$146m, in favour of a higher offer from Brands Holdings.
A month later Hidary attempted to get back in the bidding for Everlast, but Sports Direct covered Hidary's sweetened offer by raising the purchase price to $33.00 a share, or more than $182m.
Everlast Worldwide settled a lawsuit with Hidary over the merger last month.
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