Norsat International Inc. (TSX: NII and NYSE MKT: NSAT), a provider of communication solutions for remote and challenging applications, has recently received an unsolicited, conditional, non-binding proposal from Privet Fund Management LLC to acquire the company for cash consideration of USD 11.00 per share, the company said.
The non-binding proposal is subject to conditions including due diligence and financing. Consistent with its fiduciary responsibilities, Norsat´s board of directors has constituted a special committee of the Board to, in consultation with its legal and financial advisors, review and consider this proposal.
Norsat has provided notice to Hytera Communications Co. Ltd. (“Hytera”) of the receipt of the unsolicited proposal from Privet.
Founded in 1977, Norsat International Inc. is a provider of unique and customized communication solutions for remote and challenging applications. Norsat´s products and services include-edge product design and development, production, distribution and infield support and service of fly-away satellite terminals, microwave components, antennas, Radio Frequency (RF) conditioning products, maritime based satellite terminals and remote network connectivity solutions.