WEST MELBOURNE, Fla.-Two-way radio manufacturer Relm Wireless Corp.’s board of directors unanimously rejected an unsolicited merger proposal from Wireless Age Communications Inc.
“We believe that the interests of Relm and its shareholders and other stakeholders will be best served by the company remaining independent and pursuing the strategy already in place for enhancing future growth and profitability,” said George N. Benjamin III, Relm chairman.
Wireless Age’s offer would see Relm shareholders receive two shares of Wireless Age common stock in exchange for each one share of Relm Wireless common stock. Wireless Age currently holds about 8.5 percent of Relm Wireless on a converted basis.
