Tivoli Approves Merger With Targetti

Shareholders of Tivoli Industries Inc., a Santa Ana lighting company, on Friday approved its merger with a unit of Targetti Sankey SpA, a maker of lighting products based in Florence, Italy. Tivoli becomes a wholly owned Targetti unit. Tivoli shareholders will receive a cash payment of $4.50 a share, for a total of around $5.6 million. Tivoli will continue to operate from its facility in Santa Ana. Tivoli Chairman and Chief Executive Terrence C. Walsh will remain with the company as vice chairman and chief executive, and Charles F. Kimmel, Tivoli’s president, will retain his position.