Mad Catz Completes Saitek Acquisition

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Earlier in the month, Peripheral manufacturer Mad Catz announced that it was in the process of acquiring Saitek. Today, Mad Catz confirmed that it has completed the acquisition.
The overall purchase price was $30 million, of which $15.5. million was paid in cash. The remaining $14.5 million was paid in convertible notes bearing 7.5% interest (payable at maturity) and are convertible into Mad Catz common stock at $1.42 per share. $4.5 million of the notes mature in two years and $10 million mature in three years.

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This page contains a single entry by Editor published on November 21, 2007 9:15 AM.

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