Vista, Calif. - Directed
Electronics shareholders approved the sale of the company to Charlesbank
Capital Partners for approximately $305 million, including the assumption of
price is around $4.46 per share.
The closing is
expected in the next few days.
Charlesbank Capital Partners, a middle-market
private equity investment firm, agreed
in May to buy the maker of car security, car audio and home audio equipment
for $3.79 to $3.80 per share in cash. Charlesbank last week upped
its bid to match a non-binding proposal from Gibson Guitar Corp.
Charlesbank deal was valued at around $285 million, including the
assumption of $183 million in debt.