Lowrance, Orbital merger is terminated - for now

Article Abstract:

Lowrance Electronics Inc has terminated its merger deal with Orbital Sciences Corp. However, both companies have not closed the possibility of combining their resources. The merger agreement, which was supposed to create a satellite-based consumer and recreational electronics company, was inked in spring of 1999 and calls for Orbital to purchase Lowrance's 3.8 million outstanding shares.

Marine electronics

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Lowrance, Orbital go own ways

Article Abstract:

The merger plans between Orbital Sciences and Lowrance Electronics Inc has been cancelled in Dec 2000, after a long delay. The failed merger has resulted in a drop in net income for Lowrance both the 3rd qtr FY2000 and nine-month period that ended Apr 30. Its net income wwas $2.5 million, in comparison to the $3 million it posted in the FY1999 quarter. Its nine- month period net income in FY2000 plummeted to $910,000 from $1.1 million in 1999. The merger deal called for Orbital to pay $7.30 for each of Lowrance's 3.8 million shares outstanding.

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Yet another delay in Cobra/Lowrance merger

Article Abstract:

Cobra Electronics Corp in Apr 10, 2001 extended for the fourth time its $53-million acquisition of Lowrance Electronics Inc, causing investors to wonder if the transaction will happen at all. In a statement announcing the recent extension, Cobra Pres and CEO Jim Bazet assured investors that the company to pursue the strategic growth inherent in the merger of the two firms. In January, Cobra, based in Chicago, IL, agreed to purchase Lowrance, based in Tulsa, OK, for $8.25 a share.

Asset sales & divestitures, Marine Navigation Equip, Marine navigation equipment

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