- Published: 19 December 2011
- Written by Editor
RuggedCom Responds to Belden Announcement
RuggedCom Inc. ("RuggedCom") (TSX:RCM), a leading provider of rugged communications networking solutions designed for mission-critical applications in harsh environments, acknowledges that Belden Inc. ("Belden") has announced its intention to make an unsolicited all-cash offer for RuggedCom.
RuggedCom cautions its shareholders that Belden has not made a formal offer and no action is required by RuggedCom shareholders at this time. RuggedCom recommends that shareholders take no action until shareholders have received further communications from RuggedCom's Board of Directors.
RuggedCom has formed a Special Committee of its Board of Directors, consisting of J. Ian Giffen, Peter Crombie, and C. Ian Ross. The Special Committee, together with its financial and legal advisors, will evaluate and consider the adequacy of Belden's proposal, solicit other proposals, consider the full range of alternatives to maximize shareholder value and make a recommendation to RuggedCom's Board of Directors. It is, however, the Special Committee's preliminary view that the timing and approach of the Belden offer are highly opportunistic, and that Belden's offer clearly undervalues RuggedCom.
The Special Committee has retained TD Securities Inc. as its financial advisor, and McCarthy Tétrault LLP as its legal advisor. Bennett Jones LLP is acting as legal advisor to RuggedCom.
About RuggedCom Inc.
RuggedCom is a leading provider of rugged communications networking solutions designed for mission-critical applications in harsh environments. RuggedCom's technology solutions include Ethernet switches, network routers, wireless devices, serial servers, media converters, software and professional services. RuggedCom's products are designed for use in harsh environments such as those found in electrical power substations and "Smart Grids", intelligent transportation systems, industrial process control and military applications.
Marzio Pozzuoli
President and Chief Executive Officer
RuggedCom Inc.
Tel: (905) 856-5288
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.