Sutron Agrees To Be Acquired By Hach For $8.50/shr - Quick Facts

(RTTNews) - Sutron Corp. (STRN) and Hach Company announced that they entered into a definitive merger agreement, by which an affiliate of Hach Company will acquire Sutron by making a cash tender offer to acquire all outstanding shares of common stock of Sutron, at a purchase price of $8.50 per share, for a total enterprise value of approximately $39 million, net of cash.

The Sutron Board has unanimously recommended that Sutron shareholders accept and tender their shares into the offer. The offer is subject to customary conditions, including tender of 66 2/3 percent of the outstanding shares into the offer, on a fully diluted basis, and the absence of a material adverse change with respect to Sutron. The transaction is expected to be completed in the third quarter of 2015.