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DEI Shareholders OK Sale To Charlesbank

6/20/2011 02:52:50 PM Eastern

Vista, Calif. - Directed
Electronics shareholders approved the sale of the company to Charlesbank
Capital Partners for approximately $305 million, including the assumption of

The purchase
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.

The original
Charlesbank deal
was valued at around $285 million, including the
assumption of $183 million in debt.

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