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Honeywell subsidiary completes tender offer for EMS comms firm

Egret Acquisition merger into EMS will culminate with EMS as surviving corporation

  • By David Hubler
  • Aug 22, 2011

Honeywell International Inc. has announced that its wholly owned subsidiary Egret Acquisition Corp. has successfully completed the tender offer for all shares of common stock of EMS Technologies Inc.

The tender offer expired at 5:30 p.m. Eastern time Aug.19.

Egret previously announced that it would pay $33 per share, or $491 million, for EMS, a provider of connectivity solutions for mobile networking, rugged mobile computers and satellite communications.

As of the tender offer's expiration, shareholders of EMS had validly tendered 14.25 million shares of EMS common stock, representing approximately 91.6 percent of all outstanding shares. All such shares have been accepted for payment in accordance with the terms of the tender offer, the Honeywell announcement said.

Honeywell said it intends to complete the acquisition of EMS promptly through the merger of Egret Acquisition into EMS, with EMS as the surviving corporation.

In addition, after the merger, the common stock of EMS will cease to be traded on the Nasdaq Global Select Market.

Honeywell International, of Morristown, N.J., ranks No. 26 on Washington Technology’s 2011 Top 100 list of the largest federal government contractors.

About the Author

David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.

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