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Pulse Rejects Bel Fuse Offer

PHILADELPHIA, Pa. — Pulse Electronics Corporation (NYSE: PULS) announced today its board of directors unanimously rejected the unsolicited proposal from Bel Fuse Inc. to acquire all of Pulse’s outstanding shares for $6 per share. The proposal was received on February 28, 2011.

The Pulse Electronics Board of Directors, exercising its fiduciary obligation and in consultation with its financial and legal advisors, carefully reviewed the Bel Fuse proposal and concluded it was not in the best interest of Pulse, its shareholders and other constituents. “The Pulse Board of Directors is always open to opportunities that are in the best interest of Pulse shareholders,” said Ralph Faison, director and chief executive officer of Pulse Electronics. “We are not opposed to industry consolidation. However, we believe the current time is not opportune for our shareholders and the company. We believe the Bel Fuse offer does not reflect the recent and planned strategic actions we are taking to improve the company’s performance and its shareholder value.”

Today the Pulse Board of Directors delivered a letter to Daniel Bernstein, president, chief executive officer and a director of Bel Fuse, setting forth certain factors upon which the board’s determination was based.

{complink 12973|Pulse Electronics Corp.}

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