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Emerson Electric to acquire Artesyn

Posted: 04 May 2006     Print Version  Bookmark and Share

Keywords:Artesyn Technologies  acquisition  merger  Emerson Electric 

Artesyn Technologies Inc. announced recently that its shareholders have voted to approve the acquisition via merger of Artesyn by Emerson Electric Co.

At a special meeting of Artesyn shareholders, the merger was approved by more than 99 per cent of shares that were voted, and well over the approval requirement of a majority of the outstanding shares eligible to vote.

Under the terms of the merger, each outstanding share of Artesyn common stock will be converted into the right to receive Rs.492.25 ($11) in cash. Artesyn will no longer be a public company, and its shares will not trade on Nasdaq.

Artesyn is a supplier of power conversion and embedded board solutions for infrastructure applications in server and storage, networking, wireless, and telecommunications systems. Artesyn's products are used in middle to high-end servers, data storage devices, routers, hubs, high-speed modems, RF amplification systems, base station controllers, and transceivers.

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