DEI Shareholders OK Sale To Charlesbank - Twice

DEI Shareholders OK Sale To Charlesbank

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

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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