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)
- EU and U.S. announce new sanctions on Russia over Ukraine |
- U.S. Senate bill proposes sweeping curbs on NSA surveillance
- At least 43 Palestinians killed as Israel maintains pressure on Gaza |
- Putin may have passed point of no-return over Ukraine
- Water main break, geyser flood UCLA campus, strand motorists |