Mazor Robotics has announced that at a Special General Meeting of Shareholders held on 19 November, 2018, Mazor shareholders approved the previously announced definitive merger agreement with wholly-owned subsidiaries of Medtronic.
Approximately 53% of Mazor Robotics ordinary shares were represented in the meeting. Approximately 95% of the shares represented in the meeting which are neither held by a Medtronic affiliated party nor by a controlling shareholder of the Company or a shareholder with a personal interest in the merger proposal, were cast in favour of the merger.
Upon completion of the transaction, Mazor Robotics shareholders will receive US$58.50 per American Depository Share, or US$29.25 per ordinary share, in cash, for a total of approximately US$1.64 billion. The transaction remains subject to certain closing conditions and is expected to close during Medtronic’s third fiscal quarter ending 25 January, 2019.