White Electronic Designs Won't Sell Business
PHOENIX (AP) ¿ White Electronic Designs Corp., which makes technology components for the military, said Wednesday that it will not sell the business after conducting a review of its alternatives.
The company said it did receive some formal offers and several indications of interest, but decided the proposals were not in the best interest of the business or its shareholders.
White Electronic, whose board formed a special committee in August 2008 in order to evaluate all possible strategic options, will continue to run as a stand-alone business.
In addition, founder and Chairman Edward A. White has decided to retire and will be succeeded by Brian R. Kahn. White took over as chairman in August 2008, when Hamid R. Shokrgozar resigned.Shares of White Electronic Designs fell 69 cents, or 14.6 percent, to $4.05 in morning trading. The stock has traded in a 52-week range of $3 to $5.25.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV