Belden Rescinds Proposal to Acquire Digi International Inc.
ST. LOUIS--(BUSINESS WIRE)-- Belden Inc. (NYSE: BDC), a global leader in high quality, end-to-end signal transmission solutions for mission-critical applications, today announced that it has rescinded its proposal to acquire 100% of Digi International Inc. (NASDAQ: DGII) in light of the fiscal second quarter 2017 results and full-year 2017 outlook reported by Digi on May 4, 2017. Belden’s offer of $13.82 per share in cash, initially disclosed on November 11, 2016, was based on a 10x EBITDA multiple on EBITDA of $24 million implied by the high end of guidance provided by Digi to its shareholders on October 27, 2016.
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