FRANKLIN, Mass., July 16 -- Thermo Vision Corp.'s board of directors has unanimously approved a merger agreement under which the company's parent, Thermo Instrument Systems Inc., would acquire all outstanding Thermo Vision common stock held by minority stockholders for $7 per share in cash. The proposed merger must be approved by holders of a majority of outstanding Thermo Vision shares (excluding Thermo Electron, Thermo Instrument, and the officers and directors of Thermo Vision, Thermo Electron, and Thermo Instrument), and certain customary conditions must be met before the transaction can be completed.
Following the merger, Thermo Vision's common stock would cease to be publicly traded, and the company would become a private subsidiary of Thermo Instrument. The company plans to submit shortly to the Securities and Exchange Commission all necessary filings relating to the proposed merger.