Mako Surgical, a medical device company, has announced that the company’s stockholders voted at a special meeting of stockholders held on 13 December 2013 to approve the adoption of the agreement and plan of merger providing for the merger of the company with and into a wholly owned subsidiary of Stryker.
Based on a tabulation of the stockholder vote, approximately 99% of all votes cast, which represents approximately 65% of all outstanding shares on 12 November 2013, the record date for the special meeting, were voted in favor of the merger.
Mako Surgical stockholders also approved the proposal to approve, on an advisory (non-binding) basis, specified compensation payable to the Company’s named executive officers in connection with the merger.
Under the terms of the merger agreement, Mako Surgical stockholders will receive $30 per share in cash at the closing of the merger.
The parties anticipate that the transaction will close on 17 December 2013, and the parties intend that promptly thereafter MAKO will be delisted from Nasdaq.