ECI Telecom shareholders OK merger deal

By Lisa Kerner

Charlotte, N.C., Aug. 29 - ECI Telecom Ltd. shareholders approved the company's acquisition by affiliates of the Swarth Group first announced on July 1. Shareholders also approved a $1.05 million bonus to outgoing board chairman Shlomo Dovrat.

ECI stockholders will receive $10 per share in a $1.2 billion transaction that will take the company private. The merger is slated to close in the fall.

ECI is a Petach Tikva, Israel, provider of networking infrastructure equipment.

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