EMS Technologies Inc (ELMG.O), which put itself up for sale amid pressure from an activist investor, are seeking final offers for the wireless communication equipment maker in two weeks, four people familiar with the matter said. 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 9th, all of the people said this week, asking not to be identified because details of the auction are not public. EMS, which provides wireless connectivity solutions over satellite and terrestrial networks, hopes to reach a deal ahead of the company's annual shareholder meeting scheduled for June 30, a fifth source familiar with the matter said.
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 2.21% or $0.53/share to $24.54. 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 16313.
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