By Rob Curran
Faro Technologies rallied after the maker of 3D-measurement systems on Tuesday agreed to a buyout from rival Ametek for $920 million in cash.
Shares of Lake Mary, Fla.-based Faro rose 34% to $42.29 premarket, but were still shy of the $44-per-share deal price, which may suggest some investor skepticism about the odds of closing.
The transaction is subject to regulatory review and other closing conditions, and must be approved by a Faro shareholder vote. The companies expect the merger deal to close in the second half of this year.
Berwyn, Pa.-based Ametek makes a range of industrial products, from automatic doors to measurement devices. On May 1, Ametek reiterated its sales-growth and adjusted-earnings forecasts for 2025, saying the company could offset the impact of tariffs with mitigating actions.
Ametek shares slipped 0.2% to $169.91 premarket.
In April, Faro said it would likely project second-quarter bottom line in a range between a 20-cent per-share loss to breakeven.
Write to Rob Curran at rob.curran@wsj.com
(END) Dow Jones Newswires
May 06, 2025 09:27 ET (13:27 GMT)
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