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.
The article Telular Agrees to Be Acquired originally appeared on Fool.com.Fool contributor Eric Volkman has no position in Telular, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.