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BEL-TRONICS TO ACQUIRE CINCINNATI MICROWAVE
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Published: December 5, 1996
Cincinnati Microwave Inc., a struggling maker of radar detectors, agreed yesterday to be acquired by Bel-Tronics Ltd. USA, a privately held competitor based in Covington, Ga., for an undisclosed amount of stock. The transaction would result in a publicly traded company in which Bel-Tronics would own a 60 percent stake and Cincinnati Microwave, 40 percent. Last month, Cincinnati Microwave reported its 11th consecutive quarterly loss. Shares of Cincinnati Microwave rose 50 cents, to $1.75, in Nasdaq trading. Cincinnati Microwave currently has a market value of about $30 million. The company had revenues of $79.3 million last year.
