X-Rite Acquisition Closer
GRANDVILLE — Color specialist X-Rite Inc. is one step closer to acquiring Amazys Holding AG, parent company of X-Rite’s Swiss competitor GretagMacbeth. The Securities and Exchange Commission last week declared effective the registration statement filed by X-Rite regarding its offer to buy out all shares of the European firm. The deal is worth about $280 million, representing a mix of X-Rite stock and cash.
In a statement publicizing the SEC judgment, X-Rite included a practical warning to Amazys shareholders. Investors in the Swiss firm will receive a prospectus that “contains important information that should be read carefully by Amazys shareholders when determining whether to tender in the offer.”
X-Rite is holding a special shareholders’ meeting June 30 to vote on the shares that will be issued as part of the transaction. The boards of directors of both Amazys and X-Rite have expressed their approval of the transaction. Should Amazys shareholders’ approve the buy-out, the deal is expected to close July 5.