The Yankee Candle Company, Inc. announced that the company's stockholders approved the proposed merger agreement providing for the merger of Yankee with an affiliate of Madison Dearborn Partners, LLC.
Based upon preliminary voting results provided by the Inspector of Election, approximately 99.85% of the shares present and voting at the meeting voted for the approval of the merger agreement. The number of shares voting to approve the merger agreement represents approximately 76.82% of the total number of shares outstanding and entitled to vote.
Under the terms of the merger agreement, Yankee stockholders will receive $34.75 in cash, without interest, for each share of Yankee common stock they hold. The transaction is currently expected to close in February 2007.