The shareholders of Global Logistics Acquisition (stock symbol: [t]GLA[/t] have approved the acquisition of The Clark Group:
Global Logistics Acquisition Corporation Receives Stockholder Approval of Acquisition of The Clark Group, Inc.
Monday February 11, 5:50 pm ET
NEW YORK, Feb. 11 /PRNewswire-FirstCall/ -- Global Logistics Acquisition Corporation ("GLAC") (Amex: GLA - News, GLA.U - News, GLA.WS - News), a public company formed to effect a merger, capital stock exchange, asset purchase or other similar business combination with an operating business, announced that its stockholders approved its acquisition of all of the capital stock of The Clark Group, Inc., the leading independent provider of value-added distribution, transportation management, and international air and ocean freight forwarding services to the print media industry. It is expected that the acquisition will close shortly.
In addition to approving the acquisition, GLAC's stockholders approved certain changes to the Company's certificate of incorporation relating to the transaction, including changing GLAC's name to Clark Holdings, Inc. upon consummation of the transaction. The stockholders also elected seven directors -- James J. Martell, Gregory E. Burns, Donald G. McInnes, Edward W. Cook, Maurice Levy, Brian H. Bowers and Timothy Teagan and approved GLAC's Long Term Incentive Plan.
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