Artesyn Technologies, Inc. (Nasdaq: ATSN), a world leader in power conversion and embedded board solutions for communications infrastructure applications, 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.
About Artesyn Technologies, Inc.
Artesyn Technologies, Inc., headquartered in Boca Raton, FL., is a world leader in the design, manufacture and sale of power conversion and embedded board solutions for infrastructure applications in server and storage, networking, wireless and telecommunications systems. Artesyn’s products are used in middle to high-end servers, data storage devices, routers, hubs, high-speed modems, RF amplification systems, base station controllers and transceivers. The Company has a global sales reach with design and manufacturing facilities in Asia, Europe and North America. Artesyn is a public company whose common stock is traded on the Nasdaq stock market under the symbol ATSN.