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Headline: Omega Research, OnlineTradinginc Deal Has $5 Million Breakup Fee
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WASHINGTON -(Dow Jones)- The $300 million all-stock combination
between Omega Research Inc. (OMGA) and OnlineTradinginc.com Corp. (LINE)
comes with a $5 million termination fee.
As reported, Omega Research shareholders will receive one common share
of OnlineTradinginc.com for each Omega Research share.
According to a proxy filing Tuesday with the Securities and Exchange
Commission, neither Omega nor OnlineTradinginc.com may encourage
third-party takeover proposals.
The merger, which the two companies said would create a trading
platform uniquely suited for the most active traders, is subject to
shareholders approval and regulatory approval.
The filing didn't indicate when and where Omega's annual meeting will
be held, but only holders on record as of June 5 may vote on the
agreement.
The filing also indicated that the merger, which is expected to be
completed in July, will be treated as a tax-free reorganization for tax
purposes.
OnlineTradinginc.com, based in Boca Raton, Fla., is an online
financial-services company.
Miami-based Omega Research provides real-time trading, news and
quotes.
- Damien M. West; Dow Jones Newswires/Federal Filings
Business News; 202-628-9783
(This story was originally published by Dow Jones Newswires)
Copyright (c) 2000 Dow Jones & Company, Inc.
All Rights Reserved
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