International Business Editors TORONTO--(BUSINESS WIRE)--Sept. 7, 2000--CoolBrands International, Inc. (TSE:YFa.) (formerly Yogen Fruz World-Wide, Incorporated.) today reported that the shareholders of Eskimo Pie Corporation approved the merger agreement dated May 3, 2000, as amended, with CoolBrands at a special meeting of shareholders held yesterday. The merger required approval by a vote of at least two-thirds of Eskimo Pie shares outstanding, exclusive of the approximately 17% interest owned by CoolBrands, and by a majority vote of all shares outstanding. 2,079,764 shares, or 71.8% of the non-affiliated shares, were voted in favor of the merger, thereby satisfying both vote requirements without regard for the shares held by CoolBrands. Eskimo Pie Corporation will become a wholly-owned subsidiary of CoolBrands or an affiliate of CoolBrands, upon the closing of the merger, which shall take place following the satisfaction or waiver of closing conditions provided for in the merger agreement. CoolBrands markets a broad range of frozen novelties and frozen dessert products under the Tropicana, Betty Crocker, Trix, Yoplait, Colombo, Lucky Charms, and Yoo Hoo brand names, pursuant to long-term licensing agreements. In addition, CoolBrand franchises and licenses outlets operated under a Family of Brands including Yogen Fruz, I Can't Believe It's Yogurt, Bresler's Ice Cream and Premium Frozen Yogurt, Swensen's Ice Cream, Golden Swirl, Paradise, Ice Cream Churn, and Java Coast Fine Coffees, with company-owned, franchised and non-traditional partnership locations in 82 countries as of May 31, 2000.
Eskimo Pie Shareholders Approve Merger With CoolBrands
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