Avista Capital Partners’ ACP Tower Merger Sub has commenced a cash tender offer for all outstanding shares of common stock of Telular Corporation at a price of USD12.61 net per share.
The tender offer is being made in connection with the agreement and plan of merger, dated as of 29 April 2013, among Telular, ACP Tower Merger Sub and ACP Tower Holdings, which Avista Capital Partners and Telular Corporation announced on 29 April.
The Telular board of directors unanimously approved the proposed acquisition by Avista Capital Partners and recommends that Telular’s stockholders accept the offer and tender their shares to ACP Tower Merger Sub in the tender offer.
The tender offer and withdrawal rights are scheduled to expire at 12:00 midnight (New York City time) at the end of the day on 7 June, unless the tender offer is extended or earlier terminated.
Complete terms and conditions of the tender offer are set forth in an offer to purchase, letter of transmittal and other related materials that will be filed with the Securities and Exchange Commission (SEC) on 10 May 2013. In addition, on 10 May Telular will file a solicitation/recommendation statement on Schedule 14D-9 with the SEC relating to the tender offer.
