About 98.3% of the outstanding shares in Proxicom were tendered by the close of Dimension Data`s tender offer yesterday.
Based on preliminary information provided by the depository for the offer, Bankers Trust Company, more than 56.3 million of the 58.5 million shares outstanding were tendered.
The tender offer, made through Dimension Data`s indirect wholly owned subsidiary, Putter Acquisition Corporation, expired at midnight New York City time on 14 June.
The group intends to merge Putter with Proxicom on 18 June, or as soon afterwards as possible.
In the merger, each of the remaining shares of Proxicom common stock, other than shares for which appraisal rights are properly demanded, will be converted into the right to receive $7.50 in cash, without interest.
Proxicom will then become a wholly owned subsidiary of Dimension Data.
Dimension Data CEO and chairman Jeremy Ord says the completion of the offer is a significant milestone in the group`s global expansion policy.
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