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Belden Inc. (NYSE: BDC), a global leader in signal transmission solutions for mission critical applications, today announced that the mandatory threshold required to complete the purchase of Miranda Technologies has been met. More than 21 million shares of Miranda, representing approximately 95% of their outstanding common shares, were deposited to the offer made by Belden to acquire all of the outstanding common shares for C$17.00 per share in cash by the initial expiry time of the offer on July 24, 2012.
Based upon this successful outcome, Belden expects to include Miranda in its consolidated results on or before July 27, 2012.
As all of the conditions of the offer have been satisfied or waived, Belden has taken up and accepted for payment all of the deposited common shares in accordance with the offer. At the commencement of the offer, Belden, together with their affiliates and associates, did not hold any common shares. Payment for the deposited common shares will be made on or before July 27, 2012 to Computershare Investor Services Inc., as depository under the offer, for payment to Miranda shareholders who have validly deposited their common shares to the offer.
As more than 90% of the outstanding common shares were deposited to the offer, Belden intends to acquire all of the remaining common shares not deposited to the offer pursuant to the compulsory acquisition provisions of the
Business Corporations Act (Quebec). Belden further intends to cause the Miranda common shares to be de-listed from the Toronto Stock Exchange and to cause Miranda to cease to be a reporting issuer under applicable securities laws as soon as possible.
St. Louis−based Belden Inc. designs, manufactures, and markets cable, connectivity, and networking products in markets including industrial automation, enterprise, transportation, infrastructure, and consumer electronics. It has approximately 6,800 employees, and provides value for industrial automation, enterprise, education, healthcare, entertainment and broadcast, sound and security, transportation, infrastructure, consumer electronics and other industries. Belden has manufacturing capabilities in North America, South America, Europe, and Asia, and a market presence in nearly every region of the world. Belden was founded in 1902, and today is a leader with some of the strongest brands in the signal transmission industry. For more information, visit