Starrett and MiddleGround Capital have signed a merger agreement at a rate of 416.19 per share, which represent almost 63% of the closing price of Starrett share. The operation is valued at approximately $122m.
Starrett is a leading manufacturer of high-end precision tools, cutting equipment and metrology systems. Once the merger is completed, Starrett will no longer be listed on any public market.
Machado Meyer Advogados worked as legal advisors during the process with Dechert LLP. They reviewed all aspects regarding Brazilian law. Working on this from Machado Meyer Advogados was, Paulo Henrique Carvalho Pinto and Guilherme Malouf as well as a multidisciplinary team for the purpose of addressing specific concerns in connection with the Brazilian legal frame such as, tax and labour matters.