Siemens buying RuggedCom for USD438m

Tue Jan 31 2012, 14:11 PM

Siemens plans to buy RuggedCom for CAD440m (USD438m), a 50% premium on an offer tabled by US-based Belden in December. The German engineering firm has agreed to pay CAD33 (USD32.90) per share for all outstanding shares in RuggedCom, which is a 142% premium on the Canadian firm’s closing price on the Toronto stock exchange on December 16th; the day prior to Belden’s offer.

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