CARMEL, IN – ADESA, Inc. has announced that at the company’s special meeting of stockholders, held March 28, ADESA stockholders approved the adoption of the merger agreement with KAR Acquisition, Inc. by nearly 75 percent. The transaction is expected to close in late April.

On Dec. 22, 2006, ADESA entered into a definitive merger agreement under which KAR Acquisition, Inc., an entity controlled by a group of private equity funds consisting of Kelso & Company, GS Capital Partners VI, L.P., an affiliate of Goldman Sachs & Co., ValueAct Capital Master Fund, L.P., and Parthenon Investors II, L.P. will acquire all of the outstanding common stock of ADESA for $27.85 per share in cash.

0 Comments