Avigilon Shareholders Overwhelmingly Approve Acquisition by Motorola Solutions
Avigilon Corporation, provider of trusted security solutions, was pleased to announce the voting results for its special meeting of shareholders held on March 22, 2018 in Vancouver, British Columbia.
The sole matter considered at the Special Meeting was the special resolution approving the statutory plan of arrangement (the “Arrangement”) whereby Motorola Solutions, Inc. (“Motorola”) will acquire all of the issued and outstanding Avigilon common shares for cash consideration of CDN $27.00 per share through Motorola Solutions Canada Holdings Inc., a wholly-owned subsidiary of Motorola, as originally disclosed on February 1, 2018.
The Arrangement resolution was approved as follows:
- 98.24% of the total votes cast by shareholders at the Special Meeting voted FOR the Arrangement resolution; and
- 97.90% of the total votes cast by shareholders at the Special Meeting, excluding the votes cast by such Avigilon shareholders that were required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transaction, voted FOR the Arrangement resolution.
Closing of the Arrangement remains subject to court approval as well as other customary closing conditions; assuming the timely completion of these conditions, Avigilon expects the Arrangement to close by the end of March, 2018.
