Cable Design (NYSE:CDT)
Historical Stock Chart
From Jan 2020 to Jan 2025
Belden CDT Merger Is Completed
ST. LOUIS, July 15 /PRNewswire-FirstCall/ -- A wholly owned subsidiary of
Cable Design Technologies Corporation (NYSE:CDT) has merged with and into
Belden Inc. (NYSE:BWC). The merger became effective at 4:02 p.m. Eastern
Daylight Saving Time today pursuant to the certificate of merger filed with the
Secretary of State of the State of Delaware. Immediately prior to the merger,
the change of CDT's name to Belden CDT Inc. and the one-for-two reverse stock
split of CDT's stock were effected.
In an all-stock merger of equals, the exchange ratio of CDT shares for Belden
shares was one for one after giving effect to the one-for-two reverse split of
CDT. The combined company will have approximately 46 million shares
outstanding. The merger was approved in shareholder meetings of both companies
earlier today.
The merged company, Belden CDT Inc., expects to begin trading on the New York
Stock Exchange on July 16 under the new ticker symbol BDC (NYSE:BDC). The CUSIP
number for the Company's common stock is 077454106.
UBS Securities LLC acted as financial advisor to Belden Inc., and Skadden,
Arps, Slate, Meagher & Flom LLP acted as Belden's legal counsel. Credit Suisse
First Boston acted as financial advisor to CDT and Kirkland & Ellis LLP acted
as CDT's legal counsel.
Belden CDT Inc. is one of the largest U.S.-based manufacturers of high- speed
electronic cables and focuses on products for the specialty electronics and
data networking markets, including connectivity.
Forward-Looking Statements
This release contains, in addition to statements of historical fact, certain
forward-looking statements. These forward-looking statements involve risk and
uncertainty. Actual results could differ from those currently anticipated due
to a number of factors including those mentioned in documents filed with the
SEC by both Belden and CDT. Forward-looking statements are based on
information available to management at the time, and they involve judgments and
estimates. Factors that could cause results to differ from expectations are
discussed in Belden's Annual Report on Form 10-K for the year ended December
31, 2003 filed with the SEC on March 4, 2004, CDT's Annual Report on Form 10-K
for the year ended July 31, 2003 filed with the SEC on October 29, 2003 and
CDT's Registration Statement on Form S-4 filed with the SEC on March 24, 2004.
Belden CDT Inc. assumes no responsibility to update any forward-looking
statements as a result of new information or future developments.
Contact: Belden CDT Inc.
Dee Johnson, Director of Investor Relations
314-854-8054
http://www.beldencdt.com/
DATASOURCE: Belden Inc.
CONTACT: Dee Johnson, Director of Investor Relations of Belden CDT Inc.,
+1-314-854-8054
Web site: http://www.beldencdt.com/