UPDATE 1-Canada’s Roctest to go private for about C$23 mln

* Says Nova Metrix LLC’s unit offers $4.01/shr

* Offer at 117 pct premium to Tuesday’s close

Oct 20 (BestGrowthStock) – Canada’s Roctest Ltd (RTT.TO: ) agreed to
be acquired by a unit of privately held Nova Metrix LLC for
about C$22.9 million ($22.2 million) in cash, more than double
Roctest’s current market capitalization.

The deal values Roctest’s shares at C$4.01 — a premium of
117 percent to their Tuesday’s close on the Toronto Stock

The total deal value is based on the 5.7 million shares
outstanding as on June 25.

Roctest designs and makes sensors and measuring instruments
for the civil engineering market, while Woburn,
Massachusetts-based Nova Metrix provides measurement and
control instruments through its subsidiaries.

Under the terms, all outstanding stock options of Roctest
will be cancelled and each holder of options will get a cash
payment equal to the difference between the offer price and the
exercise price per option.

Roctest has agreed to pay Nova Metrix a termination fee of
C$950,000 if the transaction is not completed under certain
($1=1.032 Canadian Dollar)
(Reporting by Aftab Ahmed in Bangalore; Editing by Gopakumar
([email protected]; within U.S. +1 646 223 8780;
outside U.S. +91 80 4135 5800; Reuters Messaging:
aftab.ahmed.reut[email protected]))

UPDATE 1-Canada’s Roctest to go private for about C$23 mln