MHM Automation has received final court approval for a scheme of arrangement that will see it being acquired by Merlin NZD Bidco, a wholly-owned subsidiary of Bettcher Industries.
Under the scheme, Merlin NZD Bidco will buy all of MHM's shares for $1.70 per share in cash.
MHM has requested the suspension of trading in its shares and the delisting of the company from the NZX, subject to meeting final conditions and implementing the scheme.
The scheme's implementation date is set for March 6, 2024, with the last day of trading in MHM shares on the NZX on February 23, 2024.
Shareholders as of the record date, February 28, 2024, will be entitled to receive the scheme consideration, which will be paid on the implementation date.
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