Datron Systems Rejects Acquisition Proposal.Business Editors VISTA, Calif.--(BUSINESS WIRE)--Aug. 23, 2000 Datron Systems Incorporated (Nasdaq: DTSI DTSI Defense Trade Security Initiative DTSI Digital Twin Spark Ignition DTSI Datron/Transco Systems Incorporated DTSI DataTel Solutions, Inc. (San Antonio, Texas) ) today announced that it has received an "expression of interest" from Radyne ComStream, Inc. (Nasdaq: RADN RADN Radiation ). Radyne has expressed interest in acquiring all the outstanding stock in Datron for $17.00 per share, payable in cash or an undefined combination of cash and stock. The Company's Board has determined that in its view the transaction as proposed by Radyne is highly contingent and inadequate and has rejected Radyne's proposal. The Company is making this announcement because, pursuant to a confidentiality agreement, Radyne is in possession of previously nonpublic information Nonpublic information Information about a company that is not known by the general public, which will have a definite impact on the stock price when released. See: Insider trading. announced separately by the Company today, as well as because the Company has learned Radyne has informed at least one stockholder of its proposal. David A. Derby, chairman, president and chief executive officer, stated, "Datron has had a number of discussions with potential partners, acquirers and acquirees in the past and expects it will continue to do so. Stockholder value always has been and will continue to be the paramount consideration in evaluating any possible transaction." This news release may contain "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " as defined in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. A variety of factors could cause the Company's actual results to differ from the anticipated results expressed in such forward-looking statements. These include, among others, uncertainties stemming from the dependence of the Company on foreign sales and on large orders from a relatively small number of customers, risks relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the decline in the Company's traditional defense business and the Company's efforts to develop and market consumer products, lack of timely development or customer acceptance of new products, changes in or unavailability of products and services offered by satellite service providers and their related suppliers, worldwide economic downturns and currency devaluations Currency devaluation A deliberate downward adjustment in the official exchange rates established, or pegged, by a government against a specified standard, such as another currency or gold. , restrictions that may be imposed by the U.S. government on the export of Company products, and the impact of competition. Investors are referred to the Company's periodic reports under the Securities Exchange Act of 1934, including without limitation the Investment Considerations set forth in the Company's Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. . Datron Systems provides products and services addressing the needs of emerging satellite and radio communication markets. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion