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.  


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