Norsat, Hytera Reach Takeover Agreement in Latest Bidding War Salvo

Norsat shareholders are scheduled to vote Thursday on a Hytera Communications bid for the company, as the bidding war between Hytera and Privet Fund Management (see 1706140008) continues. Norsat said in a news release Tuesday it reached an amended definitive agreement for a Hytera takeover. It said it expects to close the deal in Q3, pending security holder, court and regulatory approvals. It said its Hytera agreement includes terms that let it terminate the deal to accept an unsolicited superior proposal, though Hytera has the right to match.