After the close of the transaction, shareholders are expected to own approximately 16% of CDI. That the transaction does not require CDI to issue more than 19.6% of its outstanding common stock prior to the transaction. Under the terms of the transaction, Youbet shareholders would receive a fixed ratio of 0.0598 shares of CDI common stock plus $0.97 in cashįor each share of Youbet common stock they own, subject to possible future adjustment to the exchange ratio in very limited circumstances to increase the cash consideration and correspondingly decrease the stock consideration, in order to ensure 10, 2009, closing price of CDI common stock. Valued at approximately $126.8 million based on the Tues. (NASDAQ: UBET) (�Youbet�) announced today they have entered into a definitive merger agreement under which CDI would acquire all of the outstanding shares of Youbet in a transaction Combination expected to deliver faster product innovation and an improved customer experience to horse racing fans, as well as to attract new fansĬompanies believe anticipated revenue opportunities and $10 million in projected annualized cost synergies make deal attractive to shareholders of
