Tech firm at centre of security debate could go with takeover bid from U.S. firm
VANCOUVER — Norsat International Inc. (TSX:NII), which is subject to a controversial takeover bid from a Chinese firm, says it may accept a better offer from an American investment fund.
The Vancouver technology company says the deal from Privet Fund Management LLC values it at US$67.3 million, which is slightly above the deal proposed by Hytera Communications.
Hytera, which manufactures radio transceivers and radio systems, made its friendly takeover offer last year and received clearance under the Investment Canada Act this month.
But its proposal has sparked a heated political debate over national security risks and the federal government’s willingness to approve a Chinese takeover of a Canadian tech company.