EFI Electronics to be Acquired by Square D
Source: EFI Electronics Corporation
For a cost of $1.50/share in cash, EFI Electronics Corporation of Salt Lake City agreed to a merger with Square D Company of Palatine, IL.
Under the terms of the agreement, EFI will become a wholly owned subsidiary of Square D. The merger is subject to customary conditions, including the approval by the EFI Electronics shareholders. The principal terms of the proposed merger transaction will be set forth in a proxy statement to be filed with the Securities and Exchange Commission and distributed to EFI shareholders. Houlihan Valuation Advisors has provided a fairness opinion to EFI about the transaction.
EFI is a supplier of consumer, business and industrial power protection products, including plug-in surge protectors and industrial hardwired products. More information on EFI products is available via the company's Internet Web page — www.efinet.com.