Monday, June 21, 2010

EF Johnson Increases Acquisition Price

Irving-based EF Johnson Technologies, a provider of emergency communications and messaging products, said today that it has amended a merger agreement with private equity firm Francisco Partners, where Francisco will acquire all of its outstanding shares for $1.50 per share in cash. The offer is up from the $1.05 per share cash price the firms announced in May 17th. EF Johnson said the updated price comes as a result of Francisco Partners' "strong commitment" to the transaction. The firms did not otherwise detail the reason for the increase in price, which is 42% over the original offer price to shareholders.