The Waterloo, Ont.-based cybersecurity and digital forensics company received majority support from shareholders in a special meeting Thursday to merge with Grayshift, a subsidiary of U.S. private equity giant Thoma Bravo. The deal still needs regulatory approvals before closing. (The Logic)

Talking point: Magnet announced in January that it had reached a deal to merge with Grayshift, a U.S. mobile forensics firm with which Magnet has partnered for years, after Thoma outbid Magnet to acquire Grayshift. The all-cash deal of $44.25 per share represented a premium of about 15 per cent on Magnet’s share price at the time it was announced. But some investors pushed back against the proposed deal, arguing the purchase price was too low. Leading up to Thursday’s vote, shareholder advisers were split on whether the acquisition should go forward. Egan-Jones endorsed the deal and ISS offered “cautionary support,” while Glass Lewis objected, citing “inadequate” valuation. As of publication, Magnet had not disclosed the number of votes for and against the acquisition.