VANCOUVER , May 25, 2017 /PRNewswire/ - Norsat International Inc. ("Norsat" or the "Company") (TSX: NII and NYSE MKT: NSAT), a provider of unique and customized communication solutions for remote and challenging applications, today announced that further to its news releases of September 19, 2016 , March 17, 2017 , March 27, 2017 , April 17, 2017 , May 15, 2017 and May 18, 2017 , the Special Committee comprising all of the Independent Directors of the Board of Directors, in consultation with the Company's legal and financial advisors, have received, reviewed and considered an offer from Hytera to amend the terms of the existing Arrangement Agreement.andnbsp; The amended offer is to acquire the Company for cash consideration of US$11.25 per share, to increase both the Norsat and Hytera termination fees from US$2.0 million to US$2.5 million , respectively, and the removal of the condition that permitted Hytera to not close the transaction in the event that greater than 20% of Norsat Shareholders exercised their Dissent Rights.andnbsp; The Independent Directors have determined that based on the amended offer from Hytera, the Privet Proposal ceases to be a Superior Proposal, and subject to obtaining approval from the Industrial Technologies Office representing the Strategic Aerospace and Defence Initiative program will enter into an amendment of the Arrangement Agreement and implement the amended offer.andnbsp; Click here for more.
from Cellular News http://bit.ly/2s3tTlg
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