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Honeywell Plans To Acquire EMS

Tue, 08/23/2011 - 9:11am

MORRIS TOWNSHIP, N.J. (AP) — Manufacturing conglomerate Honeywell International Inc. announced Monday that it has successfully completed the tender offer for EMS Technologies Inc. at $33 a share.

The offer expired Friday. Nearly 92 percent of shares outstanding had been tendered and not withdrawn by the deadline.

Honeywell's plan to acquire Atlanta-based EMS, a supplier of communications equipment to the aerospace, defense and trucking industries, for around $506 million was announced in June.

EMS shares edged up 1 cent to $32.98 Monday afternoon, while Honeywell shares declined 7 cents to $42.12.

 

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