Veda shareholders support Equifax takeover
Veda shareholders have voted in favour of a scheme of arrangement that will see the US credit reporting and data analytics company Equifax acquire 100 per cent of Veda's shares.At a shareholder meeting yesterday, the resolution to approve the scheme was passed with 99.95 per cent of votes cast in favour and 94.83 per cent of shareholders who voted voting in favour.Veda has applied to the Federal Court for approval of the scheme at a hearing scheduled for Wednesday. The company expects its share to be suspended from trading on the Australian Securities Exchange at the close of trading on Thursday.Veda chair Helen Nugent told shareholders that Veda would become part of a leading global data analytics company.Equifax is paying A$2.825 a share for Veda, valuing the company at more than $2.5 billion. The offer price was 41.6 per cent over the closing price prior to the offer and 25.5 per cent above the average price of the stock over six months before the offer.