Siemens (SI) to Buy RuggedCom in C$382M Deal
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Siemens (NYSE: SI) has entered into an agreement with RuggedCom Inc. to acquire all of the issued and outstanding common shares of RuggedCom by way of a friendly, board-supported takeover bid.
The takeover bid is for C$33.00 per common share in cash, or a total transaction value of approximately C$382 million. RuggedCom's Board of Directors has unanimously determined to support, and to recommend that RuggedCom's shareholders accept the offer. Subject to the satisfaction or waiver of certain limited conditions, Siemens expects to take up shares under the offer in the second half of March 2012.
The takeover bid is for C$33.00 per common share in cash, or a total transaction value of approximately C$382 million. RuggedCom's Board of Directors has unanimously determined to support, and to recommend that RuggedCom's shareholders accept the offer. Subject to the satisfaction or waiver of certain limited conditions, Siemens expects to take up shares under the offer in the second half of March 2012.
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