Technology Industry
Industry: Email Alert RSS FeedSimrad Yachting AS and Lowrance Electronics, Inc.(NEWS BRIEFS)
GEO: connexion, May, 2006
Simrad Yachting AS and Lowrance Electronics, Inc. announced that Navico Acquisition Corp., Simrad Yachting's wholly owned subsidiary, has merged into Lowrance and, as a result, Lowrance has become a direct wholly owned subsidiary of Simrad Yachting. The merger follows a tender offer by Navico for all of the outstanding shares of Lowrance common stock, net to the seller in cash without interest. As a result of the offer, Simrad Yachting, through Navico, acquired approximately 95.6% of Lowrance's outstanding common stock.
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