One of the Kansas City area's few remaining over-the-counter stocks is to sell for $48 million in cash, which includes assuming about $1.4 million in debt.
Olathe-based custom electronics manufacturer Torotel Inc. (OTC: TTLO) reached an agreement to be acquired by Standex International Corp. The deal also includes the Salem, N.H.-based company (NYSE: SXI) absorbing about $8 million in transaction costs incurred by Torotel.
The transaction requires approval of holders of two-thirds of Torotel's…
One of the Kansas City area's few remaining over-the-counter stocks is to sell for $48 million in cash, which includes assuming about $1.4 million in debt.
Olathe-based custom electronics manufacturer Torotel Inc. (OTC: TTLO) reached an agreement to be acquired by Standex International Corp. The deal also includes the Salem, N.H.-based company (NYSE: SXI) absorbing about $8 million in transaction costs incurred by Torotel.
The transaction requires approval of holders of two-thirds of Torotel's…