Image Entertainment Inc. said Tuesday its shareholders at a special meeting approved the company's merger agreement with San Francisco investment group Nyx Acquisitions Inc.
Nyx will acquire all outstanding shares of the Chatsworth producer and distributor of home entertainment in a deal valued at $100 million. Shareholders will receive $2.75 per share in cash.
The merger of Image and Nyx, an affiliate of Q-Black LLC, seemed in doubt last month when Nyx was late paying a $1.3 million business disruption fee. Image finally received the money Feb. 12.
The transaction could close by February 26, the company said.
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