MAKO Surgical to Merge with Stryker Corporation
MAKO Surgical Corp. announced that MAKO stockholders voted at a special meeting of stockholders held today to approve the adoption of the Agreement and Plan of Merger providing for the merger of MAKO with and into a wholly owned subsidiary of Stryker Corporation. Based on a tabulation of the stockholder vote, approximately 99% of all votes cast, which represents approximately 65% of all outstanding shares on November 12, 2013, the record date for the special meeting, were voted in favor of the merger. MAKO 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 stockholders will receive $30 per share in cash at the closing of the merger. The parties anticipate that the transaction will close on December 17, 2013, and the parties intend that promptly thereafter MAKO will be delisted from Nasdaq.