Bankrate stockholders approve merger with Red Ventures
Bankrate stockholders voted to adopt the agreement and plan of merger providing for the merger of a wholly owned subsidiary of Red Ventures Holdco, with and into Bankrate, with Bankrate continuing as the surviving corporation and as a wholly owned subsidiary of Red Ventures. Approximately 99% of all votes cast, which represents approximately 90% of all outstanding shares, were voted in favor of the merger. Bankrate stockholders also approved the proposal to approve, on an advisory basis, certain compensation that may be paid or become payable to the company's named executive officers in connection with the merger. Bankrate stockholders will receive $14 per share in cash at the closing of the merger. Completion of the merger is subject to customary closing conditions, including the receipt of required regulatory approvals. The merger is expected to be completed by the end of 2017.