MHM Automation accepts US takeover offer

MHM Automation accepts US takeover offer

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The New Zealand storage and transport company MHM Automation has agreed to a takeover offer.
Photo: 123rf.com

Storage, transport, and logistics equipment maker MHM Automation has received shareholder approval for a takeover offer from United States-based Bettcher Industries.

The price was an 87 percent premium to the last closing price, prior to the offer made in November 2023.

Food processing business Bettcher will buy all of MHM’s shares for $1.70 each, with settlement subject to final orders by the High Court.

All conditions were expected to be met with payment to shareholders on 6 March.

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