Norsat Announces New Offer from Hytera
Thursday, May 25, 2017 | Comments

Norsat International announced a new offer from Hytera Communications to acquire the company for cash consideration of US$11.25 per share, to increase both the Norsat and Hytera termination fees from US$2 million to US$2.5 million, respectively, and the removal of the condition that permitted Hytera to not close the transaction in the event that greater than 20 percent of Norsat shareholders exercised their dissent rights.

Norsat has received offers from Privet Fund Management and Hytera, but the independent directors determined the amended offer from Hytera to be superior to the Privet proposal.

The company intends to hold its previously scheduled shareholder meeting May 29.

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