MHM Automation Limited
Transaction Type: Scheme of arrangement
Offeror / Other Party: Merlin NZD Bidco Limited (owned by Bettcher Industries Inc.)
Independent Adviser(s): Simmons Corporate Finance Limited
Date of meeting: 26/01/2024
On 3 November 2023, MHM Automation Limited (MHM) and Bettcher Industries Inc. (Bettcher) entered into a scheme implementation agreement under which Bettcher, through its New Zealand-incorporated wholly-owned subsidiary Merlin NZD Bidco Limited, would acquire 100% of the fully paid ordinary shares in MHM for consideration of $1.70 per share.
On 26 January 2024, MHM shareholders voted to approve the scheme. The High Court granted final orders on 21 February 2024. The scheme was implemented and MHM was delisted on 6 March 2024.
Simmons Corporate Finance Limited prepared the independent adviser’s report on the merits of the transaction.
We have not received consent to publish documents in relation to this transaction on our website. However, copies of these documents are available upon request to the Panel under the Official Information Act 1982. Please send your written Official Information requests to takeovers.panel@takeovers.govt.nz.
