Atrion Corporation (NASDAQ: ATRI) shareholders voted to approve the company's acquisition by Nordson (NASDAQ:NDSN) Corporation. The meeting, held on Monday, resulted in overwhelming support for the merger agreement, with a majority of 1,471,593 votes in favor, 28,038 against, and 5,214 abstentions.
This approval follows the announcement of the merger agreement on May 28, 2024, which detailed the terms of the acquisition. Nordson, a leader in precision dispensing equipment for industrial coatings, will acquire Atrion, a manufacturer of medical devices and components, under the terms of the agreement.
Shareholders also gave a non-binding nod to the compensation for Atrion's named executive officers related to the merger, with 1,422,421 votes for, 64,259 against, and 18,165 abstentions.
This transaction is set to position the combined entity for a more robust presence in the medical instruments and apparatus sector, with Atrion continuing as a wholly owned subsidiary of Nordson post-merger. The merger is anticipated to close following the satisfaction of customary closing conditions.
Nordson had agreed to acquire Atrion Corporation in a cash transaction valued at approximately $815 million. The deal, which offers a 15% premium over Atrion's 90-day average stock price, is expected to close in the third quarter of 2024, pending regulatory approvals and customary closing conditions.
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