On June 13, 2011, Gerber Scientific, Inc. (“Gerber Scientific”) and Vector Capital Corporation (“Vector”) announced that they have entered into a definitive merger agreement under which funds affiliated with Vector will acquire Gerber Scientific. Cravath represented the Board of Directors of Gerber Scientific in connection with this transaction. Under the terms of the merger agreement, the shareholders of Gerber Scientific will receive $11.00 per share in cash, or approximately $281.8 million in total.
The transaction is expected to close in the second half of calendar 2011, subject to customary approvals and closing conditions. Completion of the transaction also requires approval by a majority of the outstanding shares of Gerber Scientific.
The Cravath team included partners Philip A. Gelston and Thomas E. Dunn and associates Aaron Gruber, Eugene Y. Yoon and Katherine A. Kohan on corporate matters; partner Jennifer S. Conway, practice area attorney Michael Krasnovsky and associate Brian J. Cathey on executive compensation and benefits matters; partner Michael L. Schler and associate Joanne J. Lee on tax matters; and practice area attorney Matthew Morreale on environmental matters.