Artesyn shareholders approve acquisition by Emerson Electric
May 03, 2006
Artesyn Technologies, Inc. has announced that its shareholders have voted to approve the acquisition via merger of Artesyn by Emerson Electric Co.
At a special meeting of Artesyn shareholders held today, the merger was approved by more than 99% percent of shares that were voted, and well over the approval requirement of a majority of the outstanding shares eligible to vote.
Under the terms of the merger, each outstanding share of Artesyn common stock will be converted into the right to receive $11.00 in cash. The merger became effective earlier today. After the close of business today, Artesyn will no longer be a public company, and its shares will not trade on Nasdaq.
For more information, please visit the Company's web site at www.artesyn.com.