April 2, 2010 -- ADT/Tyco's acquisition of Brink's Home Security Holdings (a.k.a. Broadview Security) was the topic of discussion at ISC West, and the deal seems to be already solidified. But there's one more thing that has to happen -- Broadview's shareholders have to vote. That date has now been set, with shareholders planning to meet at the Westin Dallas Fort Worth Airport on May 12, 2010, at 9:30 a.m. CDT to vote on the acquisition.
Already the merger has successfully passed any anti-trust concerns, with Broadview reporting that the waiting period for the merger expired on March 4, 2010. That waiting period was required under the Hart-Scott-Rodino Antitrust Improvement Acts of 1976.
Assuming that shareholders approve the merger, the merger is expected to close before May 26, 2010 (prior to the distribution of Tyco's quarterly dividend); that timeframe for closing would mean Broadview shareholders would receive a dividend on the Tyco shares that they received in the merger.
Read more information on the vote at Broadview's investor relations press room.