Stratos taken private in deal with Emerson

By Lisa Kerner

Charlotte, N.C., July 12 - Stratos International, Inc.'s shareholders approved the acquisition of the company by a wholly owned subsidiary of Emerson, finalizing a $118 million merger.

Under the companies' merger agreement, Stratos shareholders will receive $8.00 per share in cash for each share of Stratos stock. The company's stock will be delisted from the Nasdaq market at the close of business on July 12.

"We are pleased that our shareholders recognized the value of this transaction and we look forward to joining Emerson," president and chief executive officer Phillip A. Harris said in a company news release.

"This transaction will provide significant opportunities for Stratos to penetrate new industry channels and deliver superior services to our existing customers."

Emerson is a St. Louis provider of industrial automation and climate technologies.

Chicago-based Stratos develops and manufactures radio frequency and microwave components.

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