MAK Capital To Vote in Favor of AMETEK, Inc. (AME)’s Acquisition of Zygo Corporation (ZIGO)

Michael Kaufman‘s MAK Capital One has disclosed in a filing with the Securities and Exchange Commission entering into a voting agreement with AMETEK, Inc. (NYSE:AME), under the terms of which the fund will vote in favor of the merger between Zygo Corporation (NASDAQ:ZIGO) and AMETEK. MAK Capital owns around 4.37 million shares of Zygo Corporation, the stake amassing over 23% of the outstanding shares.

Zygo Corporation (NASDAQ:ZIGO)

At the end of last week, AMETEK, Inc. (NYSE:AME) and Zygo entered into a merger agreement, under the terms of which, AMETEK will acquire Zygo Corporation (NASDAQ:ZIGO) at $19.25 per share, taking the total value of the deal to $280 million. The board of directors of Zygo unanimously voted in favor of the merger.

Zygo Corporation (NASDAQ:ZIGO) is engaged in the design and production of high-precision measurement tools. Its stock price advanced by over 30% since the beginning of the year, a significant boost coming on the back of the merger announcement. The company reported EPS of $0.27 for the second quarter of its fiscal 2014, significantly up from $0.06 a year earlier.

Chuck Royce‘s Royce & Associates, Mario Gabelli‘s GAMCO Investors and Jim Simons‘ Renaissance Technologies also hold substantive positions in Zygo Corporation (NASDAQ:ZIGO). As at the end of 2013, Royce held around 665,800 shares, while GAMCO and Renaissance’s stakes amass 295,000 and 229,500 shares respectively.

At the end of last year, Zygo Corporation represented the second-largest holding in MAK Capital’s equity portfolio in terms of value. On the first spot was Agilysys, Inc. (NASDAQ:AGYS), in which the fund held 7.06 million shares, reportedly worth $98.25 million. In Orbotech Ltd (NASDAQ:ORBK), the fund also held a significant position, which contained almost 2.20 million shares, valued at $29.68 million.

Disclosure: none

Recommended Reading:

Criterion Capital Bullish On Veeva Systems Inc (VEEV), Further Raises Stake To Nearly 20%

Shah Capital Management’s Latest 13F Shows Strong Focus on Industrial Goods and Technology Companies

John Horseman Is Betting Big On Financial Stocks And Gold Mining Companies

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!