RFM stockholders approve Murata acquisition
RFM stockholders have given the green light to the firm's proposed acquisition by Murata.
The stockholders of RFM Monolithics have voted to approve merger plans with an affiliate of Murata Electronics North America, following a series of business negotiations.
Support for the decision was near-universal, with 96.8 per cent of the company's shares of common stock approving the merger.
RFM stockholders will receive $1.78 (£1.10) in cash for each share following the consummation of the deal, the company reported.
Shareholders have been advised to wait for a letter of transmittal and instructions on how to submit their certificates representing RFM common stock.
Speaking after the deal was first mooted in April, Murata Electronics chief executive officer and president David M Kirk suggested the acquisition would complement the company's existing strategy across industrial, healthcare and energy markets.
"Leveraging RFM's expertise in design and development ... will enable Murata to increase the value of the wireless module solutions delivered to Murata’s existing and future customers in the global marketplace," he added.
Posted by Ron Maverick
Source: RFM Monolithics press release, June 29th 2012