Go-shop period ends for ECI Telecom with no competing proposals received

By Lisa Kerner

Charlotte, N.C., Aug. 1 - ECI Telecom Ltd.'s go-shop period under its merger agreement with Swarth Group affiliates ended July 31. The company said it did not receive any alternative proposals to acquire ECI Telecom.

ECI Telecom expects the closing to take place in the fall of 2007, according to a company news release.

As previously reported, ECI Telecom entered into a definitive merger agreement on July 2 valued at $1.2 billion. ECI Telecom stockholders will receive $10 per share.

Swarth is an investment vehicle controlled by Shaul Shani and certain funds that have Ashmore Investment Management Ltd. as their investment manager.

Based in Petah Tikva, Israel, ECI Telecom provides networking infrastructure equipment.

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