[May 22, 2013] BRIEF: TV installer Multiband to be acquired for $116M Tweet May 22, 2013 (Star Tribune (Minneapolis) - McClatchy-Tribune Information Services via COMTEX) -- Multiband Corp., a Minnetonka-based cable and satellite TV installation firm, has signed an agreement to be acquired for $116 million in cash by Goodman Networks of Plano, Tex. The transaction provides that Goodman Networks will pay $3.25 per Multiband common share, redeem all outstanding preferred shares and repay Multiband's bank debts. However, the agreement gives Multiband 45 days to solicit alternative bids. Multiband would be operated as a wholly owned subsidiary of Goodman, and Multiband CEO James Mandel would continue to run the business. Multiband installs satellite and cable TV for homes and apartment buildings, and also provides design services for telecommunications firms and for wind and solar energy companies. Steve Alexander --612-673-4553 ___ (c)2013 the Star Tribune (Minneapolis) Visit the Star Tribune (Minneapolis) at www.startribune.com Distributed by MCT Information Services [ Back To TMCnet.com's Homepage ]