EMS Technologies Inc (ELMG.O), which put itself up for sale amid pressure from an activist investor, is seeking final offers for the wireless communication products maker in two weeks, four people familiar with the matter said this week. Several private equity and strategic bidders -- meaning companies that operate in the same industry as the seller -- have shown interest in buying EMS, but bidding rounds whittled the group down to only strategic buyers, one of these people with knowledge of the process said. Final offers are due in the second week of June, around June 9, all of the people said, asking not to be identified because details of the auction are not public. EMS, with a market capitalization of around $370 million, has drawn initial interest from companies including Comtech Telecommunications Corp (CMTL.O) and Honeywell International Inc (HON.N), several people familiar with the matter have said. It is unclear if these firms remain keen.
EMS Technologies, Inc. is a provider of wireless connectivity solutions addressing the enterprise mobility, communications-on-the-move, tracking and in-flight connectivity markets for both commercial and government users. Shares of ELMG traded higher by 2.04% or $0.49/share to $24.5. In the past year, the shares have traded as low as $13.78 and as high as $26.13. On average, 71565 shares of ELMG exchange hands on a given day and today's volume is recorded at 13613.
Comtech Telecommunications Corp. (Comtech) designs, develops and markets products, systems and services for communications solutions. Shares of CMTL traded higher by 0.22% or $0.06/share to $27.29. In the past year, the shares have traded as low as $20.19 and as high as $32.45. On average, 239217 shares of CMTL exchange hands on a given day and today's volume is recorded at 43553.
Honeywell International Inc. (Honeywell) is a diversified technology and manufacturing company, serving customers worldwide with aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, specialty chemicals, electronic and advanced materials, process technology for refining and petrochemicals, and energy efficient products and solutions for homes, business and transportation. Shares of HON traded higher by 0.8% or $0.465/share to $58.715. In the past year, the shares have traded as low as $37.89 and as high as $62.28. On average, 4304770 shares of HON exchange hands on a given day and today's volume is recorded at 1245714.
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