Multiband calls off WPCS acquisition
WPCS International Inc., of Exton, which agreed last June to be acquired by DirecTV installer Multiband Corp., of Minnesota, said Multiband called off the deal and will pay WPCS a $250,000 breakup fee.
WPCS International Inc., of Exton, which agreed last June to be acquired by DirecTV installer Multiband Corp., of Minnesota, said Multiband called off the deal and will pay WPCS a $250,000 breakup fee.
In addition, WPCS directors will meet to discuss the termination of the strategic alternatives process that has been under way for over a year, the company said.
Multiband had offered $3.20 a share for WPCS, a communications infrastructure engineering company whose shares have traded in a 52-week range of $1.57 to $3.04.
The shares closed down a penny to $1.69. - Reid Kanaley
