Curtiss-Wright Eyes VMETRO

Curtiss-Wright Corp., Roseland, N.J., has signaled its intent to acquire embedded computing provider VMETRO, of Norway, by acquiring 100 percent of its outstanding stock. The offer of 12.06 Norwegian kroner, or $2.25, per share, values VMETRO at $51.7 million.
In an Aug. 25 announcement, Curtiss-Wright said the offer is subject to certain contingencies and the completion of limited due diligence. “There is no assurance that any offer will be launched, and the company will have no further comment until the contingencies on its offer have been resolved.”
In a statement the following day, VMETRO said the completion of the offer is conditional on 90 percent acceptance of the outstanding shares and regulatory approvals. “The shareholder elected representatives on the board of directors of VMETRO believes that the offered price represents a fair pricing of the company’s shares based on its current knowledge,” the company stated. “On this basis, the Board intends to recommend the VMETRO`s shareholders to accept the Offer unless provided with material new information.”
VMETRO serves the defense, aerospace and medical markets with product lines including digital signal processing boards, data recorders and storage solutions, protocol and bus analyzers and network storage cards. The company has facilities in several countries, with U.S. offices in Houston, Ithaca, N.Y., and Chatsworth, Calif.