Claire's Stores Inc announced that an overwhelming majority of the Company's shareholders voted to approve the merger agreement providing for the merger of the Company with an affiliate of Apollo Management, L.P.
The number of votes cast for approval of the merger agreement represented approximately 75% of the combined voting power of the Company's common stock and Class A common stock outstanding and entitled to vote.
Upon the closing of the merger, the Company's shareholders will be entitled to receive $33.00 in cash, without interest, for each share of Claire's common stock and Class A common stock. The parties currently expect the merger to close next week.
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