January 9, 2012 / 11:29 PM / 7 years ago

Belden moves regulators to kill RuggedCom poison pill

(Reuters) - Belden Inc moved Canadian regulators to kill a shareholders rights plan adopted by its Canadian rival RuggedCom Inc in response to the U.S. cable maker’s offer for the company.

St. Louis, Missouri-based Belden said it also requested Ontario Securities Commission to convene a hearing before January 23, which is two days before its offer for all shares of RuggedCom expires.

Belden, which began its pursuit of Concord, Ontario-based RuggedCom in December, has offered C$22 a share for the company. [ID:nL3E8C48K4]

Shares of RuggedCom closed at C$24.95 on the Toronto Stock Exchange on Monday. Belden’s stock closed at $36.89 on the New York Stock Exchange.

Reporting by Abhiram Nandakumar in Bangalore; Editing by Joyjeet Das

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below