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Investor group proposes WPCS merger
Riley Investment Management L.L.C., an investor group based in Los Angeles, has acquired a 9 percent stake in WPCS International Inc. in Exton and has proposed a deal to acquire the company in a cash-and-stock merger valuing WPCS at $3.50 a share.
Riley Investment Management L.L.C., an investor group based in Los Angeles, has acquired a 9 percent stake in WPCS International Inc. in Exton and has proposed a deal to acquire the company in a cash-and-stock merger valuing WPCS at $3.50 a share.
The investment group proposes to merge WPCS, which helps customers build communications infrastructure, with Telecom Global Inc., of Chantilly, Va.
WPCS stock was trading up sharply, rising to 69 cents to $3.20 on Friday. - Bob Fernandez