Federal Signal completes $70 million acquisition of Canada’s Sirit
By APFriday, March 5, 2010
Federal Signal closes $70M acquisition of Sirit
OAK BROOK, Ill. — Security systems maker Federal Signal Corp. said Friday that it has completed its $70 million acquisition of Sirit Inc., a Canadian company that provides radio frequency identification, or RFID, technology.
Federal Signal, based in Oak Brook, Ill., agreed last month to buy Sirit for $70 million, or about 45 cents per share. It raised the offer twice from an original bid of $48 million. The Ontario Superior Court of Justice approved the sale on Wednesday.
Federal Signal’s stock rose 5 cents to $8.59 in midday trading.
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