C&D Technologies, Inc. announced the signing of a definitive merger agreement, pursuant to which C&D will be acquired by an affiliate of Angelo, Gordon & Co. in an all-cash transaction for $9.75 per share. The deal is expected to close in the fourth quarter of this calendar year. The transaction is not subject to a financing condition.
Under the terms of the merger agreement, each outstanding share of C&D common stock not owned by Angelo, Gordon & Co. or its affiliates will be converted into the right to receive $9.75 in cash, subject to the terms and conditions of the merger agreement.
