EDO shareholders say yes to merger with ITT

By Lisa Kerner

Charlotte, N.C., Dec. 18 - EDO Corp. said its shareholders voted "overwhelmingly" to approve the company's merger with ITT Corp. at a special meeting on Tuesday.

More than 77% of the outstanding shares were voted in favor of the deal that gives EDO shareholders $56 per share.

The transaction is expected to close on Thursday, according to a company news release.

As previously reported, ITT subsidiary Donatello Acquisition Corp. will merge with and into EDO, with EDO continuing as the surviving corporation and a wholly owned subsidiary of ITT.

New York-based EDO designs and manufactures products for aerospace, defense, intelligence and commercial markets.

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