Cable Maker Belden Offers $332M To Link With Miranda Tech

Law360, New York (June 5, 2012, 12:55 PM EDT) -- Cable manufacturer Belden Inc. plans to pick up Canadian rival Miranda Technologies Inc. in a CA$345 million (US$332.4 million) all-cash deal that will ratchet up its revenues from networking and connectivity products for the broadcast market, the companies said Tuesday.

The winning CA$17 (US$16.38) per-share price offered to investors comes after Miranda in March announced its strategic review, which drew bids from several companies, according to the Montreal-based target. The offer represents a 42 percent premium over the average closing price for the 90 days preceding...
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