Siemens Bids C$382 Million for Ruggedcom, Trumping Belden
Wednesday, Feb 01, 2012
Siemens AG (SIE), Europe’s largest engineering company, offered C$382 million ($380 million) to buy Ruggedcom Inc. (RCM), entering a bidding contest for the Canadian network company with Belden Inc. (BDC)
Siemens agreed to pay C$33 for each share of the Woodbridge, Ontario-based maker of communications equipment used in industrial processes, the Munich-based company said in a statement today. That’s more than twice as much as Ruggedcom’s closing share price on Dec. 16, the last day of trading before St. Louis, Missouri-based Belden offered C$22 on Dec. 19.
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