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4 months ago
BRIEF-Privet Fund offers US$11/share to acquire Norsat International
April 17, 2017 / 11:12 AM / 4 months ago

BRIEF-Privet Fund offers US$11/share to acquire Norsat International

April 17 (Reuters) - Privet Fund Management:

* Privet fund offers US$11.00 per share to acquire Norsat International Inc

* Privet fund management - continues to maintain ownership and control of 1,027,170 shares of Norsat, representing about 17.6% of outstanding shares

* Privet fund management - sent to board of Norsat international letter indicating interest in acquiring 100% of common shares of Norsat not already owned

* Privet fund management - requested Norsat for access to updated financial and legal diligence information so that it can deliver "superior proposal"

* Privet fund management says it expressed "disappointment" in result of Norsat's negotiations with hytera

* Privet fund management says "does not view financial terms of proposed Hytera arrangement to be in best interests of Norsat shareholders at this time" Source text for Eikon: Further company coverage:

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