Monday, Zareba Systems Inc. (ZRBA) signed a definitive agreement to merge with a subsidiary of Woodstream Corp., a Pennsylvania corporation. Woodstream is majority owned by private equity firms Brockway Moran & Partners, Inc. and Code Hennessy & Simmons LLC. Under the terms of the agreement, a newly-formed subsidiary of Woodstream will merge with and into Zareba, Zareba will become a wholly-owned subsidiary of Woodstream, and Zareba shareholders will receive $9.00 in cash for each outstanding share of Zareba common stock.
The merger is expected to be completed in the first half of 2010 and is subject to Zareba shareholder approval and other customary closing conditions. A special meeting of Zareba shareholders will be announced following preparation and filing of proxy materials with the Securities and Exchange Commission.
Zareba Systems, Inc. designs, manufactures, and markets electronic perimeter fence and access control systems primarily in North America and the United Kingdom. Its products include energizers, high tensile fence systems, insulators, poly wires, tapes and ropes, and perimeter security fence systems for human and animal control, containment, detection, and deterrence.
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