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Norsat gives Hytera until 25 May to match Privet bid

Friday 19 May 2017 | 13:52 CET | News

Norsat International said it has given Hytera Communications until 25 May to match the superior offer for the company from Privet Fund Management. In an update to its unsolicited offer, Privet is offering USD 11.00 cash per share, compared with USD 10.25 offer that Norsat had originally agreed upon with Hytera. If Hytera does not amend its proposal, then Norsat intends to accept Privet's bid through a definitive agreement, upon which it would pay Hytera a USD 2.0 million termination fee.

However, a definitive deal with Privet would require approval from the Industrial Technologies Office representing the Strategic Aerospace and Defence Initiative programme. Any transaction with Privet would be subject to shareholder and all required regulatory approvals.



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