Telular Agrees to Be Acquired
Apr 29th 2013 9:12PM
Updated Apr 29th 2013 10:25PM
Telular will most likely soon be an asset belonging to another company. It has entered into an agreement to be bought by private equity firm Avista Capital Partners for total consideration of $253 million. This consists of $12.61 per share in cash and roughly $18.5 million in assumed debt.
That price per share is 31% higher than the closing stock price last Friday, the final day prior to the announcement of the acquisition.
According to the press release jointly issued by the two companies, "the proposed acquisition has fully committed financing and is currently expected to close within 50-75 days." Telular's board has unanimously approved it, recommending that the firm's stockholders tender their shares.
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