CalAmp Comments on LoJack's Announced Strategic Alternatives Process
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Calamp (CAMP) Says Its Ready to Engage With LoJack (LOJN) Following Offer
December 10, 2015 3:49 PM ESTCalAmp (NASDAQ: CAMP), a leading provider of wireless products, services and solutions, today announced it submitted an offer to acquire LoJack Corporation (NASDAQ: LOJN) ("LoJack") for $5.50 in cash per outstanding share of LoJack common stock. Based on the closing stock price of LoJack on December 9, 2015, the transaction is valued at $113 million.
As previously announced in a letter to LoJack's Chief Executive Officer and President on December 10, 2015, this all-cash offer:
Represents a 58% premium to... More