MDC Partners’ merger with The Stagwell Group sailed through with more than enough support from MDC shareholders, according to the final vote tally disclosed by MDC.
The deal easily topped two voting thresholds.
First, the deal needed a “for” vote from at least two-thirds of the total share votes cast. It ended up with 77.6% support of shares cast at the July 26 special meeting of shareholders, according to Ad Age Datacenter’s calculations based on the share vote disclosed in an MDC regulatory filing today.
Second, the transaction needed support from at least a “majority of the minority” of votes cast—that is, a majority after factoring out votes cast by interested parties including Stagwell (MDC’s largest shareholder), Mark Penn and Bradley Gross.