FINALLY: On2 Shareholders Approve Google Deal

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After several months of delays, video software company On2 shareholders finally approved the company’s $130+ million merger with Google.

The deal should close by the end of the day Friday.

From the release:

On2 stockholders holding in excess of a majority of the outstanding shares of On2 Common Stock voted in favour of the merger proposal.

Under the terms of the merger agreement, as amended, each outstanding share of On2 Common Stock (other than shares owned by (a) Google, Oxide Inc., Oxide LLC or On2 and (b) any On2 stockholders who are entitled to and who properly exercise appraisal rights under Delaware law) will be cancelled and extinguished and will be automatically converted into the right to receive (1) $0.15 in cash; (2) 0.0010 of a share of Google Class A Common Stock; and (3) cash in lieu of any fractional share of Google Class A Common Stock (after aggregating all fractional shares of Google Class A Common Stock issuable to such On2 stockholders), without interest.

On2 and Google anticipate closing the transaction on or about February 19, 2010, subject to the satisfaction or waiver of other previously disclosed closing conditions.

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