Loading...
Loading...
, a manufacturer and provider of loss prevention, inventory management and labeling solutions,
announced on Wednesday it has agreed to sell itself for $10.15 per share to an affiliate of CCL Industries.
Shares of Checkpoint Systems closed for trading at $7.89 on Tuesday. The purchase price represents a premium of 29 percent over its latest closing price and a 50 percent premium to its 30-day volume weighted average price.
Checkpoint will hold a special meeting of its shareholders to act upon the proposed merger. The company's Board of Directors have unanimously approved the merger and recommends that shareholders follow suit.
"This transaction represents a highly attractive premium for Checkpoint's shareholders," said Checkpoint Systems President and Chief Executive Officer, George Babich. "CCL is a recognized global leader in labeling and packaging. Checkpoint, as a division of CCL upon closing, will be able to invest in and grow Checkpoint's industry leading hardware, software and consumables to create a unique offering, the future of inventory management for brand owners and leading retailers worldwide," said Babich.© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
