Bolt Technology Shareholders Approve Acquisition By Teledyne

(RTTNews) - Bolt Technology Corp. (BOLT) said Monday that at a special meeting, its shareholders voted to approve the adoption of the previously announced Agreement and Plan of Merger, dated September 3, by and among Teledyne Technologies Inc. (TDY), Lightning Merger Sub, Inc., a subsidiary of Teledyne, and Bolt.

Pursuant to the deal, Teledyne will acquire all of the outstanding common shares of Bolt for $22.00 per share payable in cash. The aggregate value for the deal is about $171 million, taking into account Bolt's stock options and net cash as of March 31, 2014.

The proposed merger is expected to close on November 18.