Under the agreement, Reuters will immediately begin a tender offer for all the outstanding shares of Multex. Following the tender offer, a merger will occure, in which all remaining Multex shareholders will receive the same per share price.
Reuters already has 1.94 million of Multex’s 32.5 million outstanding shares, accounting for about 6% ownership. Multex senior management, who own about 5% of Multex not including options, have agreed to support the deal by tendering their shares.
The acquisition is now subject to customary conditions, including standard regulatory approvals, after being approved by the board of directors of both companies.
