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Shareholder Communications Corp. has agreed to buy Georgeson & Co. in a stock swap transaction, ending an on again, off again three-year courtship.
Financial terms of the agreement were not disclosed, though one industry source put the price at between $10 million and $15 million.
The new firm, Georgeson Shareholder Communications Inc., will be the largest proxy solicitation company in the world with revenues of about $100 million and more than 500 employees.
Georgeson Shareholder Communi-cations will serve a combined client base of more than 1,000 public companies and mutual fund groups representing nearly 50 million shareholders worldwide.
The combined company will offer proxy solicitation, corporate governance consulting, information agent services, merger and acquisition services, post-merger services, exchanges, rights offerings and small shareholder oddlot programs.
While this merger means fewer choices for companies in the market for proxy solicitation and related services, it could also mean greater savings as GSC and its two largest rivals, D.F. King & Co. and Morrow & Co....