Vector Capital Has RAE at the Finish Line
June 10, 2011- Share:
After outbidding Battery Ventures, Vector Capital has won over the stockholders of RAE Systems (NYSE Amex: RAE). The PE firm will acquire the provider of sensor solutions for $2.25 per share of common stock. Debt financing is being provided by Silicon Valley Bank. Vector's takeover proposal was approved by holders of over 75% of RAE's outstanding shares. The transaction is expected to close next week.
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