BREAKING NEWS
June.28/ 2006 Filed in: Special
TELEX
Electro-Voice
Dynacord
MIDAS
Klark Teknik
Bosch Group Aquires Telex Communications
From the Bosch Corporate website -
STUTTGART/MINNEAPOLIS – The Bosch Group announced today that it has signed a definitive agreement for the acquisition of Telex Communications Holding, Inc. through the merger of a wholly owned subsidiary of Robert Bosch GmbH into Telex. The merger agreement provides for an aggregate purchase price of US-$ 420 million, includes the assumption of Telex indebtedness, subject to certain post-closing adjustments, and also provides for the satisfaction and discharge of the publicly held indebtedness of Telex and its affiliates. The merger agreement has been approved by the Board of Directors of Telex and the Board of Management of Bosch, and has also been approved by the requisite percentage of Telex's voting stockholders.
From the Telex Corporate website -
MINNEAPOLIS, MN - Telex Communications Holdings, Inc., Minneapolis, MN, announced today that it has signed a definitive merger agreement with a wholly owned subsidiary of Robert Bosch GmbH, pursuant to which Bosch will acquire Telex for an aggregate purchase price of $420 million, including the assumption of Telex indebtedness, subject to certain post closing adjustments. The purchase price will represent per share merger consideration to stockholders equal to at least $24 per share of Telex common stock, subject to adjustments that, together with certain additional contingent payments over several years, could result in aggregate consideration to stockholders of $29 per share. The merger agreement also provides for the satisfaction and discharge of the publicly held indebtedness of Telex and its affiliated companies. Upon closing of the merger, the surviving companyÕs name will be Telex Communications Holdings, Inc., with headquarters remaining in Minneapolis, MN.
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