Scientific Technologies completes merger with Omron
14-09-06
Scientific Technologies had completed its merger with a subsidiary of Japan-based Omron Corporation STI shareholders will receive $10.67 per share in cash as a result of the merger, and STI will cease to be a publicly-traded company. Also as a result of the merger and related transactions, Omron acquired STI's Safety Products Group (SPG) business and STI sold its Automation Products Group (APG) business to Automation Products Group, a new company formed by members of the Lazzara family. The total transaction values the equity of the Company at approximately $110.8 million. The operations of STI's Safety Products Group will remain in Fremont, California.