A class-action suit didn't stop Lindsay Corp.'s acquisition of Olathe-based Elecsys Corp.
Lindsay, based in Omaha, announced in November that it was paying $70.5 million for the machine-to-machine tech company, however, a shareholder lawsuit stalled its closing.
Elecsys shareholders alleged that Elecsys' board didn't vet its options before it "hastily agreed to the inadequate merger," which failed to maximize shareholder value.
Despite the initial grievances, 99 percent of shares voted to approve…Biyernes, Enero 23, 2015
Lawsuit fails to stop Olathe-based Elecsys sale
A class-action suit didn't stop Lindsay Corp.'s acquisition of Olathe-based Elecsys Corp.
Lindsay, based in Omaha, announced in November that it was paying $70.5 million for the machine-to-machine tech company, however, a shareholder lawsuit stalled its closing.
Elecsys shareholders alleged that Elecsys' board didn't vet its options before it "hastily agreed to the inadequate merger," which failed to maximize shareholder value.
Despite the initial grievances, 99 percent of shares voted to approve…
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