UPDATE 1-Optelecom-NKF says to be acquired by TKH Group
* Deal valued at $2.45/shr
* Offer price is 59.1 pct premium over Wed's close price
* Says deal not subject to financing condition
Nov 11 (Reuters) - U.S. video surveillance systems company Optelecom-NKF Inc OPTC.O said on Thursday it had agreed to be acquired by Dutch technology company TKH Group NV (TWKNc.AS) in an all-cash deal valued at $2.45 per share.
The offer price represents a premium of 59.1 percent over Optelecom's closing price of $1.54 Wednesday on Nasdaq, the company said.
"Optelecom-NKF's portfolio is complementary to TKH's existing portfolio and strengthens TKH's position in the ... transport and public transit market," TKH's Chief Executive Alexander van der Lof said in a statement.
Optelecom-NKF said the company's board had unanimously approved the deal. The transaction is not subject to any financing conditions. (Reporting by Sakthi Prasad in Bangalore; Editing by David Holmes)
Trending On Reuters
We are living longer but not creating financial plans to keep pace. Advisers give tips on how to make sure you don’t outlive your money. Video