MTS Systems (NASDAQ: MTSC) announced that, based on the preliminary voting results from a special meeting of shareholders held on Mar. 4, the company's shareholders have approved the adoption of the previously announced merger agreement relating to the proposed transaction between MTS and Amphenol (NYSE: APH), whereby MTS will become a wholly-owned subsidiary of Amphenol.
MTS Systems' testing and simulation hardware, software and service offering helps customers accelerate and improve design, development and manufacturing processes that are used for determining the mechanical behavior of materials, products and structures. The company's high-performance sensors provide measurements of vibration, pressure, position, force and sound in a variety of applications.
Approval by MTS Systems' shareholders is a condition to the closing of the merger. The merger remains subject to other customary closing conditions, including receipt of approvals or clearances under certain antitrust and competition laws and foreign investment laws. After certification by the inspector of elections, the final voting results will be filed with the U.S. Securities and Exchange Commission in a Form 8-K, which will also be available at www.sec.gov.
J.P. Morgan Securities LLC and Evercore are serving as MTS's co-financial advisors and Sidley Austin LLP is acting as its legal advisor. Centerview Partners LLC is serving as Amphenol's financial advisor for the transaction and Latham & Watkins LLP is acting as its legal advisor.
Additional information on MTS can be found at www.mts.com.