Radio Frequency Identification Technology for Logistics, Tagging and EPC

Sirit, Federal Signal merger one step closer to completion

Sunday, February 28, 2010

Sirit announced that, at the company’s meeting of shareholders, that they approved the adoption of its amended definitive arrangement agreement with Federal Signal Corporation.

Sirit signed a second amendment to its agreement with Federal Signal, whereby Federal Signal would acquire all issued and outstanding common shares of Sirit for cash consideration of $0.46 per share, an increase of $0.16 per share over the original cash consideration announced.

Sirit expects the transaction to close on or about March 5, subject to the satisfaction of certain closing conditions, including, obtaining final court approval. [end] 

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