MarineMax shareholders overwhelmingly approved the proposed merger with Safe Harbor Marinas, according to a filing with the Securities and Exchange Commission. The proposal included a merger proposal, an advisory compensation proposal and an adjournment proposal.
“Each of the merger proposal and the advisory compensation proposal were approved ,” the filing said. “The adjournment proposal was not submitted to the company’s shareholders for approval at the special meeting because a quorum was present at the special meeting and there were sufficient votes to approve the merger proposal.”
Votes in favor of the merger were 16,266,303, and votes against were 18,751. Votes abstaining were 33,317.
Shareholders also approved the non-binding advisory proposal on compensation that may be paid or become payable to named executive officers in connection with the merger, with 13,033,039 votes for, 2,990,051 against and 295,281 abstentions.
Upon completion of the merger, Safe Harbor will acquire all issued and outstanding shares of MarineMax common stock for $53 per share in cash. The all-cash transaction represents an enterprise value of approximately $1.5 billion.
