Forge Global Shareholders Approve Acquisition by Charles Schwab
Forge Global (FRGE) announced that Forge's stockholders approved all proposals related to the previously announced acquisition of Forge by The Charles Schwab Corporation (SCHW). A total of 9,687,311 shares of Forge's common stock were represented in person or by proxy at Forge's special stockholder meeting, representing 69.97% of the total voting power of the holders of Forge's common stock, which constituted a quorum for the transaction of business at the meeting. Approximately 69.81% of the votes cast at the Special Meeting voted to approve the proposal to adopt the merger agreement entered into by Forge and Schwab, and approximately 68.95% of the votes cast at the Special Meeting voted to approve, on a non-binding, advisory basis, certain compensation arrangements for Forge's named executive officers in connection with the acquisition. Due to the stockholders' approval of the merger agreement proposal, a vote on the proposal to adjourn the Special Meeting was not called. The acquisition of Forge by Schwab is expected to close in the first half of 2026, subject to customary closing conditions, including regulatory approvals.
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Forge Global Holdings, Inc. Shareholders Approve Merger with Charles Schwab Corporation with 69.81% Voting Support
- Shareholder Voting: At Forge's special shareholder meeting, a total of 9,687,311 shares of common stock were represented, accounting for 69.97% of the voting power, ensuring a quorum for the approval of the merger proposals.
- Merger Agreement Approval: Approximately 69.81% of shareholders voted in favor of the merger agreement with Charles Schwab, indicating strong confidence in the integration process, which is expected to enhance Forge's competitive position in the private market.
- Executive Compensation Arrangements: About 68.95% of votes supported non-binding advisory proposals regarding executive compensation related to the merger, reflecting shareholder recognition and trust in the management team.
- Expected Merger Timeline: The acquisition is anticipated to close in the first half of 2026, subject to customary closing conditions including regulatory approvals, laying a foundation for Forge's future growth and providing Schwab with opportunities to expand its market share.
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Forge Global Holdings, Inc. Shareholders Approve Merger with Charles Schwab Corporation with 69.81% Voting Support
- Shareholder Voting: At Forge's special shareholder meeting, a total of 9,687,311 shares of common stock were represented, accounting for 69.97% of the voting power, ensuring a quorum for the approval of the merger proposals.
- Merger Agreement Approval: Approximately 69.81% of shareholders voted in favor of the merger agreement with Charles Schwab, indicating strong confidence in the integration process, which is expected to enhance Forge's competitive position in the private market.
- Executive Compensation Arrangements: About 68.95% of votes supported non-binding advisory proposals regarding executive compensation related to the merger, reflecting shareholder recognition and trust in the management team.
- Expected Merger Timeline: The acquisition is anticipated to close in the first half of 2026, subject to customary closing conditions including regulatory approvals, laying a foundation for Forge's future growth and providing Schwab with opportunities to expand its market share.
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Analyst Estimates: Wall Street analysts predict adjusted earnings of $1.40 per share on revenue of $6.4 billion, a significant increase from last year's adjusted earnings of $1.01 on revenue of $5.3 billion.
