ST. LOUIS--(BUSINESS WIRE)--
Belden Inc. (NYSE: BDC), a global leader in high quality, end-to-end
signal transmission solutions for mission-critical applications, today
announced that it has rescinded its proposal to acquire 100% of Digi
International Inc. (NASDAQ: DGII) in light of the fiscal second quarter
2017 results and full-year 2017 outlook reported by Digi on May 4, 2017.
Belden’s offer of $13.82 per share in cash, initially disclosed on
November 11, 2016, was based on a 10x EBITDA multiple on EBITDA of $24
million implied by the high end of guidance provided by Digi to its
shareholders on October 27, 2016.
_____________________________________________________________________________________
About Belden
Belden Inc., a global leader in high-quality, end-to-end signal
transmission solutions, delivers a comprehensive product portfolio
designed to meet the mission-critical network infrastructure needs of
industrial, enterprise and broadcast markets. With innovative solutions
targeted at reliable and secure transmission of rapidly growing amounts
of data, audio and video needed for today’s applications, Belden is at
the center of the global transformation to a connected world. Founded in
1902, the company is headquartered in St. Louis and has manufacturing
capabilities in North and South America, Europe and Asia. For more
information, visit us at www.belden.com;
follow us on Twitter @BeldenInc.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170505005784/en/
Source: Belden Inc.