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Gerber Scientific Shareholders Approve Acquisition by Vector Capital

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Gerber Scientific, Inc. (NYSE: GRB) today announced that at a special meeting of shareholders held earlier today, shareholders voted to approve the previously announced merger agreement with Vector Knife Holdings (Cayman), Ltd. and Knife Merger Sub, Inc., controlled affiliates of Vector Capital. Shareholders also voted to approve, on an advisory (non-binding) basis, the compensation that may be paid or become payable to the Company's named executive officers in connection with the merger pursuant to the Merger Agreement, and the agreements and understandings pursuant to which such compensation may be paid or become payable.

Under the terms of the Merger Agreement, Vector will acquire all of the outstanding shares of common stock of the Company for $11.00 per share in cash plus a non-transferable contractual right to receive additional contingent cash consideration payments if net recoveries are obtained in connection with certain claims for infringement of a Company patent covering "print to cut" technology. The transaction is expected to close on or around August 22, 2011.

Posted-In: M&A News

 

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