ADC Telecommunications Inc. (Minneapolis, MN) and Teledata Communications Ltd. (Herzlia, Israel)
Nov. 1, 1998
ADC Telecommunications Inc. (Minneapolis, MN) and Teledata Communications Ltd. (Herzlia, Israel) announced that ADC will pay $15.75 per share, or approximately $200 million, for all of Teledata`s outstanding shares of stock and convert outstanding Teledata stock options into ADC common-stock options. A definitive agreement has been executed for the acquisition, and the transaction is expected to close by the end of 1998, subject to certain conditions, including Teledata shareholder approval, judicial approval, and receipt of necessary governmental consents.
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