Zillow, Inc. (Nasdaq:Z) and Trulia, Inc. (NYSE:TRLA) announced Thursday that Zillow shareholders and Trulia stockholders voted resoundingly to approve the previously announced definitive agreement, dated as of July 28, 2014, pursuant to which Zillow will acquire Trulia.
At special meetings held earlier Thursday, approximately 88.75% of Zillow votes outstanding and entitled to be voted, and 79.52% of Trulia votes outstanding and entitled to be voted, were voted in favor of the agreement. Zillow shareholders and Trulia stockholders also voted to approve the authorization of nonvoting Class C capital stock in the combined company’s amended and restated articles of incorporation.
Pursuant to the agreement, Zillow will acquire Trulia in a stock-for-stock transaction, where Trulia stockholders will receive 0.444 shares of Class A Common Stock of the combined company for each share of Trulia. The transaction remains subject to the satisfaction or waiver of customary closing conditions, including the expiration of U.S. antitrust waiting periods. The companies anticipate that the transaction will be completed in the first half of 2015.
For more information, visit Zillow.com.