During a special meeting, Home BancShares’ shareholders voted to approve the issuance of common stock in relation to the acquisition of Happy Bancshares. Of the shares voted at the special meeting, 99.47% voted in favor of the issuance of Home BancShares’ common stock, which will be issued under and in accordance with the agreement and plan of merger, dated as of Sept. 15 and amended on Oct. 18 and Nov. 8.
In addition, during a special meeting, Happy Bancshares’ shareholders voted to approve the agreement and plan of merger, with 90.7% of the outstanding shares of Happy Bancshares voting at the meeting. Of the shares voted at the special meeting, 97.27% voted in favor of the acquisition.
“I want to thank both the Happy shareholders and [Home BancShares] shareholders for their support of the merger. The strong vote is an overwhelming show of strength for the merger of these two great companies,” John Allison, chairman of Home BancShares, said.
The completion of the Happy Bancshares acquisition remains subject to federal and state regulatory approvals and other customary closing conditions. Home BancShares continues to expect that this transaction will be completed in Q1/22.
