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NEW YORK The shareholders of Digitas and Modem Media have approved the former’s $160 million stock-for-stock acquisition of the latter, and as a result, the transaction is expected to close tomorrow.
Upon the close of the deal, Modem Media shareholders will receive 0.70 shares of Digitas common stock for each share of Modem Media common stock held immediately prior.
Since the merger was announced in July, the deal has lost value. The purchase was originally estimated at $200 million based on the $9.83
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