- Overwhelming shareholder approval with over 99% votes in favor of FARO Technologies' merger with AMETEK.
- FARO shareholders to receive a premium cash offer of $44 per share.
- The merger is expected to close in the second half of 2025, pending regulatory approvals.
FARO Technologies (FARO, Financial), a prominent provider of 4D digital reality solutions, recently announced that its shareholders have overwhelmingly approved the proposed merger with AMETEK, Inc. at a Special Meeting of Shareholders. Preliminary voting results revealed that over 99% of the votes were cast in favor of the merger agreement, demonstrating strong support from FARO's investor base.
Under the terms of the merger agreement, FARO shareholders will receive $44 in cash for each share of FARO common stock. This transaction offers a significant premium to shareholders and is anticipated to close in the second half of 2025. The closing is contingent upon the satisfaction of customary closing conditions and the receipt of all necessary regulatory approvals.
Evercore is serving as the exclusive financial advisor to FARO, while Foley & Lardner LLP is providing legal counsel. The strategic merger with AMETEK, a larger industrial technology company, is expected to enhance FARO's capabilities and market reach, although the company will lose its independence post-merger.
This merger marks a pivotal development for FARO Technologies, positioning the company for prospective growth opportunities under the auspices of AMETEK. Stakeholders should monitor upcoming regulatory reviews, which could impact the timeline for the transaction's completion.
