The two companies set shareholder meetings for Jan. 28, 2016, to approve the deal.
ComScore, Rentrak Set Shareholder Votes
On Sept. 29, 2015, comScore and Rentrak entered into a definitive agreement to merge in an all-stock, tax-free transaction. Under the terms of the agreement, Rentrak shareholders will receive 1.15 comScore shares for each Rentrak share they own. Upon completion of the merger, comScore shareholders are expected to own approximately 66.5% and Rentrak shareholders are expected to own approximately 33.5% of the combined company on a fully diluted basis.
ComScore and Rentrak on Wednesday announced that the registration statement for the transaction filed with the U.S. Securities and Exchange Commission by comScore on Oct. 30 was declared effective by the SEC on Dec. 23.
ComScore and Rentrak have each scheduled special shareholder meetings for Jan. 28, 2016, to seek shareholder approval of the proposed merger. ComScore’s special meeting of shareholders will be held at 1 p.m. ET at comScore’s headquarters in Reston, Va. Rentrak’s special meeting of shareholders will be held at 9 a.m. PT at Rentrak’s Portland, Ore., headquarters. Each company’s shareholders of record at the close of business on Dec. 10 will be entitled to vote at their respective meetings.
The closing of the merger remains subject to approval by comScore and Rentrak shareholders. As previously announced, the merger agreement was unanimously approved by the boards of directors of both companies, and comScore and Rentrak expect the deal to close promptly after the shareholder approval. Assuming shareholder approval, the combined company is expected to trade under the comScore ticker symbol (SCOR) by the end of January.