[RVRC] Belden buys Miranda Technologies...

[Marvin Bronstein]

Belden and Miranda have agreed upon a purchase offer that strengthens Belden's position in the industry;


MIRANDA BOARD AGREES TO RECOMMEND BELDEN PURCHASE OFFER
Miranda Technologies Inc. (Montreal, Canada) has entered into an agreement with Belden Inc. (Richmond IN) to offer to purchase all outstanding common shares of Miranda by way of a take-over bid at a price of C$17.00 per share in cash. 
The Offer represents the culmination of the strategic review process initiated by the corporation's Board of Directors in March 2012. Miranda's Board of Directors has unanimously determined that the offer is fair to the holders of Miranda common shares and is in the best interests of the Corporation, and has agreed to recommend to shareholders that they accept the offer. 
Miranda President/CEO Strath Goodship stated, "The offer by Belden reflects the value created by our employees, management team and Board of Directors. Our businesses and technologies are highly complementary, and bringing them together will generate a more complete set of end-to-end solutions for our customers. Together, we can continue to build on our success as a premium provider to the broadcast industry."
Miranda and Belden will develop an integration plan that best leverages the combined capabilities of the two companies. Belden has no plans for any changes to Miranda's existing operations, including the R&D and manufacturing operations located at its Montreal base, and it is not expected that there will be any significant changes to employment levels. With no significant product overlap, the primary focus will be to ensure continuity of supply and support for customers of both companies.

Belden is a premier manufacturer of coax cable and data/signaling cable While Miranda Technologies manufactures broadcasting electronics equip't and systems.