NEW YORK--(BUSINESS WIRE)--Fortress Investment Group LLC (NYSE:FIG) announced that, at its special meeting of shareholders held earlier today, the Company’s shareholders had voted, among other things, in favor of the proposal to adopt the previously announced merger agreement pursuant to which certain subsidiaries of SoftBank Group Corp. will acquire Fortress for approximately $3.3 billion in cash. Approximately 63.1% of Fortress’s Class A and Class B shares outstanding and entitled to vote as of the record date (voting as a single class) voted in favor of the proposal. Of the votes cast in respect of the proposal, approximately 99.7% of shares voted in favor.
The transaction remains subject to certain regulatory approvals and other customary closing conditions. The transaction is anticipated to close in the second half of 2017, after which Fortress will operate as an independent business within SoftBank under the continuing leadership of Fortress Principals Pete Briger, Wes Edens and Randy Nardone.
Fortress Investment Group LLC is a leading, highly diversified global investment firm with $70.2 billion in assets under management as of March 31, 2017. Founded in 1998, Fortress manages assets on behalf of over 1,800 institutional clients and private investors worldwide across a range of credit and real estate, private equity and traditional asset management strategies. Fortress is publicly traded on the New York Stock Exchange (NYSE: FIG). For more information regarding Fortress Investment Group LLC or to be added to its e-mail distribution list, please visit www.fortress.com.