CHICAGO, Feb. 7 -- FMC Corp. has declared its interest in acquiring Advanced Machine Vision Corp. (AMVC), proposing to AMVC's board of directors a purchase price of $1.75 per share in cash for a total of approximately $27 million.
Charles H. Cannon, FMC vice president and general manager of FMC FoodTech, said, We believe this transaction makes great sense from the standpoint of both companies. For FMC FoodTech, optical sorting technology complements our food safety and solutions strategy. In addition, our global sales and service capability can strengthen AMVC's market access. For Advanced Machine Vision Corp., we believe its shareholders will be provided with a full and fair price and its employees and customers will be given an opportunity for enhanced growth and stability.