Market Overview

FLIR Systems to Acquire LOREX Technology for $1.31/ Share in Cash


OREX Technology has entered into a definitive agreement with FLIR Systems, Inc. ("FLIR") (NASDAQ: FLIR) pursuant to which all the outstanding shares of Lorex will be acquired by FLIR for a price of CDN $1.30 per share in cash. The CDN $1.30 per share represents a premium of approximately 35.4% to Lorex's closing share price of CDN $0.96 on October 24, 2012. A copy of the definitive agreement will be posted on SEDAR in the near future.FLIR is a world leader in the design, manufacturing, and marketing of thermal imaging and advanced threat detection systems for a wide variety of imaging, thermography, and security applications. The transaction will be implemented by way of a court-approved Plan of Arrangement under Ontario law and is subject to approval by Lorex shareholders, the TSX Venture Exchange, and other customary closing conditions. The transaction has been approved unanimously by the Boards of Directors of both FLIR and Lorex and, in Lorex's case, the approval followed the unanimous recommendation of a Special Committee of Independent Directors. The Board of Directors of Lorex determined that the transaction is fair to shareholders and

See full press release

Posted-In: News Guidance Contracts Asset Sales Management M&A Global


Related Articles (FLIR)

View Comments and Join the Discussion!