Siemens AG is paying about C$382 million ($381.41 million) to buy Canada’s RuggedCom Inc., Reuters reported Monday. The $33 per share offer is at a premium of 26% to RuggedCom’s Friday closing. RuggedCom makes heavy-duty routers and ethernet cables used in power distribution and refineries.
(Reuters) – Siemens AG said it will buy Canada’s RuggedCom Inc in a deal valued at about C$382 million ($381.41 million), topping a recent C$280 million offer from U.S. manufacturer Belden Inc .
The C$33.00 per share offer is at a premium of 26 percent to RuggedCom’s Friday closing.
RuggedCom makes heavy-duty routers and ethernet cables used in power distribution and refineries.
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