| Corporate Headquarters Metrologic Instruments, Inc. 90 Coles Road Blackwood, NJ 08012-4638 Tel 856-228-8100 Fax 856-228-0653 www.metrologic.com |
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| Metrologic Shareholders Approve Merger Agreement | ||||
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Blackwood, New Jersey – December 20, 2006 -- Metrologic Instruments, Inc. (NASDAQ-GS:MTLG), a leading provider of data capture and collection hardware and software, announced today that its shareholders voted to adopt the merger agreement providing for the acquisition of Metrologic by a group of investors led by Francisco Partners, one of the world’s largest technology-focused private equity funds. C. Harry Knowles, Founder, Chairman and Interim CEO of Metrologic, and Elliott Associates, L.P., a leading multi-strategy hedge fund, will invest alongside Francisco Partners to complete the acquisition. Based upon the preliminary tally of shares voted, 17,658,803 shares were voted at the special meeting, representing 77% of Metrologic’s total outstanding shares as of the record date for the meeting. Of the shares voted, 15,556,427 shares were voted in favor of the adoption of the merger agreement, representing 88% of the votes cast at the meeting. The proposed merger was announced on September 12, 2006, and is expected to close on December 21, 2006, pending the satisfaction or waiver of all of the closing conditions set forth in the merger agreement. Metrologic expects that its stock will cease trading on the NASDAQ Global Select Market at market close on December 21, 2006. Under the terms of the merger agreement, upon the closing of the merger, Metrologic shareholders will be entitled to receive $18.50 per share in cash, without interest, for each share of Metrologic common stock that they hold. About Metrologic About Francisco Partners About Elliott Associates Forward-Looking Statements These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These factors include, but are not limited to, the occurrence of any event, change or other circumstances that could give rise to the termination of the merger agreement; the inability to complete the merger due to the failure to satisfy the conditions to the completion of the merger; the failure to obtain the necessary debt financing set forth in a commitment letter received in connection with the merger; and the failure of Metrologic to have the required amounts of cash and fully liquid cash equivalents to satisfy a condition to the closing of the merger.
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