Norsat, which owns Sinclair Technologies, received a new indication of interest from Privet Fund Management. Privet provided a nonbinding letter of interest to acquire Norsat for cash consideration of $10.25 per share subject to due diligence, financing the completion of a definitive agreement and other conditions.JVCKENWOOD Invests in LTE Handset Manufacturer Sonim
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The announcement follows indications of interest from multiple parties with respect to a strategic transaction last September.
The board, together with the company’s financial advisors and legal counsel, has been reviewing various strategic alternatives and opportunities to maximize value for shareholders. The board will consider and evaluate the non-binding indication of interest from Privet as part of this ongoing process.
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