Honeywell subsidiary extends tender offer for EMS Technologies
$491 million planned purchase moved into mid-August
- By David Hubler
- Jul 26, 2011
Egret Acquisition Corp., a wholly owned subsidiary of Honeywell International Inc., has extended its previously announced tender offer for all outstanding shares of EMS Technologies Inc. common stock.
The tender offer now remains in effect until 5:30 p.m. Eastern on Aug. 19, according to a Honeywell announcement dated July 27.
Exactly one month ago Egret announced the tender offer, agreeing to pay $33 in cash for each share — or approximately $491 million — of EMS, a provider of connectivity solutions for mobile networking, rugged mobile computers and satellite communications.
As of July 25, EMS stockholders had tendered 13.6 million shares, or approximately 87.4 percent of all outstanding common stock shares.
EMS's $181 million Global Resource Management division provides highly ruggedized mobile computing products and services for transportation, logistics and workforce management as well as secure satellite-based asset tracking and messaging technology for search and rescue, warehousing and field force automation environments, according to an earlier Honeywell announcement.
Through its $174 million Aviation division, EMS provides terminals, antennas, in-cabin network devices, rugged data storage, and surveillance applications predominantly for use on aircraft and for other data-gathering objectives, the announcement states.
The tender offer is subject to the satisfaction of conditions, including the receipt of antitrust and Federal Communications Commission approvals.
Honeywell International, of Morristown, N.J., ranks No. 26 on Washington Technology’s 2011 Top 100 list of the largest federal government contractors.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.