With no better offers on the table, Gerber Scientific Inc. is preparing to go forward with a $281.8 million merger that will take the Tolland technology manufacturer private.
Gerber announced Wednesday the expiration of a 45-day so-called “go shop” period in which the 63-year-old public company was free to solicit better offers than the one Vector Capital Corp. put up on June 10.
Gerber makes equipment used for signs, specialty graphics, apparel and optical lenses.
Gerber and its advisers solicited three dozen potential counter suitors, of which three went around kicking Gerber’s tires but didn’t submit any formall offers, the company said.
So, on Aug. 18 in the Hilton Hartford Hotel in downtown Hartford, Gerber says its board of directors will huddle at a 10 a.m. special meeting to formally approve Vector’s offer.
