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FLIR Systems Inc Completes Acquisition of LOREX Technology Inc for $60 Million


Thursday, 20 Dec 2012 09:00am EST 

FLIR Systems Inc announced that it has completed its previously announced acquisition of Lorex Technology Inc. for $1.32 per share, representing an aggregate purchase price of $60 million. On October 25, 2012, FLIR announced it had entered into an agreement to acquire Lorex subject to certain conditions. The transaction was completed by a FLIR subsidiary purchasing all the outstanding shares of Lorex followed by the amalgamation of that purchasing subsidiary with Lorex, resulting in Lorex becoming a wholly-owned subsidiary of FLIR. The acquisition was completed upon receipt of final court approval from the Ontario Superior Court of Justice (Commercial List) of the proposed plan of arrangement. The plan of arrangement was approved by Lorex's shareholders at the special meeting of shareholders held on December 13, 2012. 

Company Quote

34.11
-0.11 -0.32%
23 Jul 2014