Johnson Outdoors announced that while its proposed merger with JO Acquisition Corp. received enormous support from Johnson Outdoors' longstanding shareholders, it did not receive the support of some institutions that more recently became shareholders. Consequently, the company did not receive the supermajority vote of shareholders as required under Wisconsin law for approval at today's special meeting.
Helen Johnson-Leipold, the Chairman and Chief Executive Officer of Johnson Outdoors, said, “While the outcome of today's vote isn't what we had hoped for, I want to thank all of our shareholders who supported this merger and reaffirm my strong commitment to Johnson Outdoors and its future.”
