Epiq Shareholders Approve Acquisition by OMERS Private Equity and Harvest Partners

USA/Canada News

28
Sep
2016

Editor

Upon completion of transaction, Epiq and DTI to combine, creating a global legal services and technology leader

Epiq Systems, Inc., a leading global provider of integrated technology and services for the legal profession, today announced that its shareholders have approved the previously announced acquisition of Epiq (through DTI) by OMERS Private Equity, the private equity arm of the OMERS pension plan, and funds managed by Harvest Partners, LP, for $16.50 in cash for each share of Epiq’s common stock.

The transaction is expected to close on or shortly after September 30, 2016.

Upon completion of the transaction, Epiq will become a privately-held company and will be combined with DTI, a leading global legal process outsourcing (LPO) company majority-owned by OMERS and managed by OMERS Private Equity.

The proposal to adopt the merger agreement received the affirmative vote of the holders of at least two-thirds of the outstanding shares of Epiq’s common stock entitled to vote on the transaction.  According to the final voting results, approximately 90.67% of the outstanding shares of common stock of Epiq, as of the close of business on August 22, 2016, the record date, voted and 99.74% of such shares voted in favor of the merger agreement.

All approvals, consents or consultations required to consummate the merger under U.S. antitrust laws have been obtained or made, and accordingly, the related condition to the consummation of the merger set forth in the merger agreement has been fully satisfied. The consummation of the merger remains subject to the satisfaction or waiver of certain other closing conditions set forth in the merger agreement and discussed in detail in the Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission (“SEC”) by Epiq on August 24, 2016, as supplemented by the supplemental disclosures included in Epiq’s Current Report on Form 8-K filed with the SEC on September 20, 2016.