Final bids for EMS Tech due in 2 weeks-sources
NEW YORK May 25 (Reuters) - EMS Technologies Inc ELMG.O, which put itself up for sale amid pressure from an activist investor, is seeking final bids for the wireless communication products maker in two weeks, four people familiar with the matter said this week.
Several private equity and strategic bidders -- meaning companies that operate in the same industry as the seller -- have shown interest in buying EMS, but bidding rounds whittled the group down to only strategic buyers, one of these people with knowledge of the process said.
Final offers are due in the second week of June, around June 9, all of the people said, asking not to be identified because details of the auction are not public.
EMS, with a market capitalization of around $370 million, has drawn initial interest from companies including Comtech Telecommunications Corp (CMTL.O) and Honeywell International Inc (HON.N), several people familiar with the matter have said. It is unclear if these firms remain keen.