UTStarcom (UTSI) Sells Personal Communications Division
More News related to UTSI
- Halter USX China Index Announces Third Quarter 2008 Results and Adds New Constituents
- First Ever IPTV Services in Sri Lanka with Optibase Advanced Streaming Platforms
- Beacon Equity Issues Trade Alerts on Recent Analyst Upgrades: NOV, ADTN, UTSI, PTR, CVLT, AAP
- BWS Financial Upgraded UTStarcom (UTSI) to Buy
- UTStarcom (UTSI) Exec Enters 10b5-1 Plan to Sell 352K Shares
More News related to Mergers and Acquisitions
- Citi (C) would consider bidding for all of Wachovia (WB) - CNBC
- Precision Castparts (PCP) Agrees to Acquire Fatigue Technology
- Perrigo Company (PRGO) Acquires Laboratorios Diba for $25M
- Wonder Auto Tech. (WATG) Agrees to Acquire Contral Stake of Jinan Worldwide Auto Parts Company
- Vishay (VSH) May Be Willing To Raise Offer for International Rectifier (IRF) Beyond $23
UTStarcom, Inc. (Nasdaq: UTSI) reached an agreement to sell its Personal Communications Division to a newly formed entity controlled by AIG Vantage Capital, a part of AIG Investments. The expected proceeds of approximately US$240 million will be based primarily on the net working capital levels, subject to certain adjustments. In addition to the cash consideration, UTStarcom could also receive up to US$50 million based on a three-year earn out provision.
Related Categories
Mergers and AcquisitionsStocks Mentioned
-0.11Sign 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!
