MHM Automation seeks shareholder approval for Bettcher deal

MHM Automation has received initial orders from the High Court regarding its proposed scheme of arrangement with Bettcher Industries.

Under the scheme, Bettcher's New Zealand subsidiary, Merlin NZD Bidco, would acquire all of MHM's shares for NZ$1.70 per share.

As part of the initial orders, MHM is required to hold a meeting of shareholders to seek their approval of the scheme.

The company is now in the process of organising a special meeting, which is expected to take place in January 2024.

If the scheme is approved by shareholders, MHM will then seek final orders from the High Court.