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Article: ADC Telecommunications to Enter Broadband DLC Market With Acquisition of Teledata Communications; Acquisition Meets Three Strategic Objectives for ADC.
- Article from:
- Business Wire
- Article date:
- September 16, 1998
CopyrightCOPYRIGHT 1998 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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MINNEAPOLIS and HERZLIA, ISRAEL--(BUSINESS WIRE)--Sept. 16, 1998--ADC Telecommunications, Inc. (NASDAQ: ADCT; www.adc.com) and Teledata Communications Ltd. (NASDAQ: TLDCF; www.teledata.co.il) today announced that ADC has agreed to pay $15.75 per share or approximately $200 million in cash for all of Teledata's outstanding shares of stock and to convert outstanding Teledata stock options into ADC common stock options. A definitive agreement has been executed and the transaction is expected to close by the end of 1998, subject to certain conditions including, among others, Teledata shareholder approval, judicial approval and receipt of necessary governmental consents. At ...