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Honeywell to buy EMS Technologies
Posted: Tue, Jun 14, 2011, 7:29 AM ET (1129 GMT)
Honeywell announced Monday it plans to acquire EMS Technologies, a company that provides antenna and other satellite communications technologies, in a deal valued at nearly half a billion dollars. Honeywell said it will purchase EMS Technologies at $33 a share, or $491 million, in cash, a 57 percent premium on the stock's price at its close on Friday. Honeywell said it made the acquisition in order to bolster its business in satellite communications as well as rugged mobile computing. The companies expect the deal to close in the third quarter.
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