Pulse Electronics to Review Unsolicited Proposal
Shareholders Need Take No Action at This Time
PHILADELPHIA--(BUSINESS WIRE)-- Pulse Electronics Corporation (NYSE: PULS) (the “Company”) today announced it has received an unsolicited proposal from Bel Fuse Inc. (NASDAQ: BELFB) to acquire all of the outstanding shares of Pulse Electronics for $6.00 per share.
The Pulse Electronics Board of Directors will review the proposal, consistent with its fiduciary duties, in consultation with its financial and legal advisors. There is no need for Pulse Electronics shareholders to take any action at this time.
As previously announced, Pulse received two letters from Bel Fuse in which Bel Fuse provided notice it intends to nominate four candidates for election to the Pulse Electronics Board of Directors at the Company’s 2011 Annual Meeting of Shareholders.
Pulse Electronics will present recommendations regarding its nominees for directors in the Company’s definitive proxy statement, which will be filed with the U.S. Securities and Exchange Commission and mailed to all shareholders eligible to vote at the 2011 Annual Meeting of Shareholders. Pulse Electronics shareholders are advised to take no action at this time with respect to Bel Fuse’s director nominees pending review by the Board’s Governance and Nominating Committee.
Additional Information and Where to Find It
Pulse Electronics will file a proxy statement on Schedule 14A in connection with the 2011 Annual Meeting of Shareholders. SHAREHOLDERS OF PULSE ELECTRONICS AND OTHER INTERESTED PERSONS ARE ADVISED TO READ, WHEN AVAILABLE, PULSE ELECTRONICS’ PROXY STATEMENT IN CONNECTION WITH THE SOLICITATION OF PROXIES FOR THE ANNUAL MEETING BECAUSE THE PROXY STATEMENT WILL CONTAIN IMPORTANT INFORMATION. The proxy statement will be mailed to shareholders as of a record date to be established for voting at the annual meeting. Shareholders will also be able to obtain a copy of the proxy statement, without charge, once available. The proxy statement and other relevant documents can also be obtained, without charge, at the SEC’s Internet site http://www.sec.gov or by contacting Pulse Electronics' main office at (215) 355-2900.
About Pulse Electronics Corporation
Pulse Electronics is the electronic components partner that helps customers build the next great product by providing the needed technical solutions. Pulse has a long operating history of innovation in magnetics, antennas and connectors, as well as the ability to ramp quickly into high-quality, high-volume production. The Company serves manufacturers in the wireless and wireline communications, power management, military/aerospace and automotive industries. For more information, visit the Company’s web site at www.pulseelectronics.com.
Jim Jacobson, Director of Investor Relations
Pulse Electronics Corporation
Alan Miller / Jennifer Shotwell
Innisfree M&A Incorporated
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