Mtc Shareholders Approve Merger with Bae Systems ; the Local Defense Contractor Will Become a Subsidiary of British Company.

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RIVERSIDE -- Shareholders of MTC Technologies Inc. voted overwhelmingly to approve the defense contractor's merger into British aerospace company BAE Systems, MTC officials said Thursday, Feb. 28.

Approximately 99.9 percent of the shares of MTC common stock that were voted on at a special meeting of stockholders Thursday were cast in favor of the $450 million merger, according to MTC's statement. That equated to 90 percent of the total number of common shares outstanding and entitled to be voted at the special meeting on the merger proposal, MTC said.

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Mtc Shareholders Approve Merger with Bae Systems ; the Local Defense Contractor Will Become a Subsidiary of British Company.

Under the agreement, BAE Systems will pay MTC stockholders ...

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