BOSTON (Thomson Financial) - Performance Food Group Co. said Wednesday that
its shareholders voted to approve the proposed merger of the company with a
wholly-owned subsidiary of an affiliate of the Blackstone Group and Wellspring
Capital Management LLC.
On Jan. 18, Performance Food agreed to be acquired in a transaction valued
at about $1.3 billion.
Under the terms of the agreement, Performance Food's shareholders will
receive $34.50 in cash for each share of the company's common stock.
The transaction is expected to close by the end of the second quarter.
Shares of the Richmond, Va.-based food distributor fell one cent to $34.09.
Greg Saulnier
gs/pc
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