ECI Telecom has been acquired by affiliates of the Swarth Group and certain funds that have appointed Ashmore Investment Management Limited as their investment manager, for a total value of approximately $1.24 billion.
Under the terms of the Merger Agreement, which was approved by a majority of over 99% of ECI shareholders voting at an extraordinary general meeting held on August 29, 2007, each ECI share outstanding as of today has been automatically converted into the right to receive US $10.00 per share in cash, without interest and less any applicable withholding tax.
ECI had been listed on NASDAQ for the past 25 years. http://www.ecitele.com
