Miranda Technologies agrees to take-over bid by Belden
June 7, 2012
The board of Miranda Technologies will recommend a take-over bid by Belden to buy all outstanding shares of the company for $17 per share in cash, the company said June 5.
The offer represents the culmination of the strategic review process initiated by the Miranda’s Board of Directors in March 2012. A special committee of the Board of Directors led the review process.
The offer represents a premium of 42 percent to the 90-trading day Volume Weighted Average Share Price of $11.99 as of June 4, 2012, the last trading day before the announcement of the offer.