With Savvis' shareholders voting to approve the deal, CenturyLink (NYSE: CTL) cleared what might be its last major hurdle in acquiring the managed services provider.
About 99 percent of the votes cast, which represents 86 percent of Savvis' outstanding shares, voted to approve the CenturyLink deal at a special stockholders meeting in St. Louis, Mo.
While the deal will instantly give CenturyLink an instant expanded set of data center and cloud capabilities, instantly transforming it into a major managed service player, Savvis will continue to be led by current president James Ousley as a unit of the telco.
Savvis' stockholder approval comes on the heels of the FCC signing off on the deal yesterday. With this approval in place, CenturyLink and Savvis expect to complete the merger this Friday, July 15.
- see the release
CenturyLink's Savvis acquisition gets FCC approval
Glen Post, CenturyLink: Wireline's most powerful people
CenturyLink goes from local to global player with proposed Savvis acquisition
CenturyLink establishes greater cloud presence with $2.5 billion deal for Savvis