Artesyn Shareholders Approve Acquisition by Emerson Electric
April 28 2006 - 1:31PM
PR Newswire (US)
BOCA RATON, Fla., April 28 /PRNewswire-FirstCall/ -- Artesyn
Technologies, Inc. (NASDAQ:ATSN), a world leader in power
conversion and embedded board solutions for communications
infrastructure applications, announced today that its shareholders
have voted to approve the acquisition via merger of Artesyn by
Emerson Electric Co. At a special meeting of Artesyn shareholders
held today, the merger was approved by more than 99% percent of
shares that were voted, and well over the approval requirement of a
majority of the outstanding shares eligible to vote. (Logo:
http://www.newscom.com/cgi-bin/prnh/20050117/FLMLOGO ) Under the
terms of the merger, each outstanding share of Artesyn common stock
will be converted into the right to receive $11.00 in cash. The
merger became effective earlier today. After the close of business
today, Artesyn will no longer be a public company, and its shares
will not trade on Nasdaq. About Artesyn Technologies, Inc. Artesyn
Technologies, Inc., headquartered in Boca Raton, FL., is a world
leader in the design, manufacture and sale of power conversion and
embedded board solutions for infrastructure applications in server
and storage, networking, wireless and telecommunications systems.
Artesyn's products are used in middle to high-end servers, data
storage devices, routers, hubs, high- speed modems, RF
amplification systems, base station controllers and transceivers.
The Company has a global sales reach with design and manufacturing
facilities in Asia, Europe and North America. Artesyn is a public
company whose common stock is traded on the Nasdaq stock market
under the symbol ATSN. For more information, please visit the
Company's web site at http://www.artesyn.com/ . Cautionary
Statement About Forward-Looking Statements Statements in this press
release that are not historical facts are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Readers are cautioned that these forward-
looking statements involve certain risks and uncertainties and may
differ materially from actual future events or results. Undue
reliance should not be placed on such forward-looking statements.
Certain risks and uncertainties are identified in Artesyn's
periodic filings with the United States Securities and Exchange
Commission, specifically the most recent annual report on Form
10-K, filed on March 13, 2006. Some of these risk factors include,
but are not limited to, operating in a volatile, competitive
industry characterized by rapidly changing prices, technologies and
demands associated with global manufacturing in foreign locations,
dependence on a relatively small number of customers, dependence on
and volatility of foreign sales, and technological changes which
may render our existing products uncompetitive or obsolete. Any
forward-looking statement made in this release is made as of the
date of this release and should not be relied upon as representing
our estimates as of any subsequent date. Artesyn assumes no
obligation to update any such forward- looking statements. While we
may elect to update forward-looking statements at some point in the
future, we specifically disclaim any obligation to do so, even if
our estimates change. For a more detailed discussion of such risks
and uncertainties, the Company strongly encourages you to review
its SEC filings.
http://www.newscom.com/cgi-bin/prnh/20050117/FLMLOGO
http://photoarchive.ap.org/ DATASOURCE: Artesyn Technologies
CONTACT: Pamela Rembaum, Director, Investor Relations, Artesyn
Technologies, +1-561-451-1028, or Web site: http://www.artesyn.com/
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