HELO buyout by GN Netcom -- congrats all longs!
NEW YORK, Oct 4 (Reuters) - GN Netcom, a communications technology company based in Denmark, agreed to purchase Hello Direct Inc. (NasdaqNM:HELO - news) for about $87 million in cash, GN Netcom said in a release.
GN Netcom signed a definitive agreement to acquire all outstanding shares of Hello Direct common stock for $16.40, a premium of $5.28 based on Hello Direct's closing price on Tuesday, the release said.
There were about 5.3 million shares of Hello Direct outstanding as of Wednesday, Hello Direct's chief financial officer, Kip Witter, said in an interview.
GN Great Nordic, the parent of GN Netcom, will begin a tender offer on or about October 11 to purchase all Hello Direct common stock. The tender offer is scheduled to close on November 8.
San Jose, Calif.-based Hello Direct, a telephony and equipment interface maker, will operate as a strategic business unit of GN Netcom, the company said. |
