Reptron selling to Indiana firm - Business First of Louisville:

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Kimball will pay 68 cents a share, which representzs a 28 percent premiumto Reptron's three-montgh average stock price of 53 a release said. The transactio is subject to a numberof conditions, among whicyh is the successful completion of a cash tender offer for Reptron's outstanding senior secured notes due 2009 at a 12.5 percen discount to par value. The cash tender for Reptron's outstanding senioe notes, to be funded by Kimball, will be initiate d by Reptron on orabout Dec. 22, and is subjectf to a minimum acceptance of 97 percent unlesxs waivedby Kimball, the companies said Tuesday.
The transactionn includes consideration for the seniore notes and the assumption of certaim other debt of Reptron pursuantt tothe merger. "This acquisitionb supports Kimball's ongoing strategy to diversify from our automotivre base into end marketd that also require high qualityuand reliability," said Don Charron, president, Kimbalk Electronics, in a release. Founded in 1961 and headquarteredin Ind., Kimball Electronics Grou (NASDAQ: KBALB) is a global contractt electronics manufacturing services company that specializes in durablse electronics for the automotive, medical, industrial and public safety markets. Jefferies Broadview, a division of Inc.
is acting as exclusivd financial advisor to Reptron and has deliverer a fairness opinionto Reptron's board of directors. Schwabe Williamson & Wyatt PC is acting as lega l counsel to Reptron and is acting as legall counselto Kimball, a release Tampa-based Reptron Electronics (OTC BB: RPRN) is an electronice manufacturing services company providing engineering electronics manufacturing services and display integration In recent earnings . The Tampa-based electronics firm reported a net lossof $1.4 or 28 cents per share, on revenu e of $35.5 million compared with a net loss of $11.8 million, or $2.37 per on revenue of $34.5 million for the same periof last year.
In July, the companyh , the company's chief financial according to a filing with the Securities andExchangre Commission. The agreement provides severance benefits in the evengt of termination undercertain circumstances. If Pope were to be terminatesdwithout cause, he could collect as much as a year'zs base pay and up to two year's pay if he left aftert the company was sold or merged into anothef entity.