MILE - Metromile announces stockholder approval for Lemonade merger agreement

Metromile (MILE +5.7%) announced that at the Special Meeting of Stockholders the company's stockholders approved a proposal to adopt the merger agreement entered into with Lemonade (LMND +6.0%) for acquiring Metromile in an all-stock transaction. The deal was initially announced in November 2021. The merger proposal was supported by at least 95.9% of the votes casted which represents ~63.6% of the shares issued and outstanding as of business close on Dec.28. Transaction is expected to be completed during second calendar quarter of 2022. SA Contributor Trapping Value with Hold rating recently wrote, "When Life Gives You Lemonade".

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Metromile announces stockholder approval for Lemonade merger agreement