AboveNet, announced that at its special meeting of stockholders held on June 5 its stockholders approved the proposal to adopt the merger agreement, dated as of March 18, by and among AboveNet, Zayo Group and Voila Sub, a wholly owned subsidiary of Zayo Group, providing for the acquisition of AboveNet by Zayo Group. Approximately 82.7% of the shares of AboveNet common stock issued and outstanding as of the close of business on April 30 the record date for the special meeting, were voted at the special meeting. The consummation of the acquisition of AboveNet by Zayo Group is subject to the receipt of required regulatory approvals as well as the satisfaction of other customary closing conditions as set forth in the merger agreement and discussed in AboveNet's definitive proxy statement filed with the Securities and Exchange Commission on May 3. AboveNet continues to expect that the transaction will close in mid-2012.
Investors recovered their poise by midday Thursday after an early sell-off sent stocks sharply lower.