MHM Automation shareholders have voted in favour of a scheme of arrangement that will result in the acquisition of the company by Merlin NZD Bidco, a subsidiary of Bettcher Industries.
The resolution to approve the scheme was passed at a meeting, with 99.96% of the votes cast in favour.
The scheme is still subject to final orders from the High Court and other implementation conditions.
If all conditions are met, shareholders are expected to be paid $1.70 per share on March 6 2024.
MHM Automation is a New Zealand-based company listed on the NZX.
Bettcher Industries is the parent company of Merlin NZD Bidco.
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