EF Johnson Technologies (EFJI) Amends Merger Agreement with Francisco Partners
EF Johnson Technologies, Inc. (Nasdaq: EFJI) announced that it has entered into an amendment to its merger agreement with an affiliate of Francisco Partners. Under the terms of the amended merger agreement, an affiliate of Francisco Partners will acquire all of the outstanding shares of EF Johnson Technologies' common stock for $1.50 per share in cash. This is an increase of over 42% over the $1.05 per share cash purchase price contemplated by the parties' original merger agreement previously announced on May 17, 2010. EF Johnson Technologies' Board of Directors unanimously approved the amended merger agreement.
In addition to increasing the cash purchase price, the amendment increases the termination fees payable under certain circumstances, increases the amount of allowable transaction expenses and amends certain representations and warranties contained in the merger agreement. The transaction remains subject to customary closing conditions. As in the original merger agreement, there is no financing condition to the obligations of Francisco Partners to consummate the transaction.
[SM]
In addition to increasing the cash purchase price, the amendment increases the termination fees payable under certain circumstances, increases the amount of allowable transaction expenses and amends certain representations and warranties contained in the merger agreement. The transaction remains subject to customary closing conditions. As in the original merger agreement, there is no financing condition to the obligations of Francisco Partners to consummate the transaction.
[SM]
You May Also Be Interested In
- Bazaarvoice (BV) Agrees to Buy PowerReviews; Offers Prelim. Q1 Results, Guides Q2, FY13
- Delphi Automotive (DLPH) in Talks with FCI to Buy Motorized Vehicles Unit
- Microsoft (MSFT) Could Bring Full Office Suite to Android Tablets, iPad -BGR (GOOG) (AAPL)
Create E-mail Alert Related Categories
Corporate News, Mergers and AcquisitionsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
