Shah Capital Offers to Buy Magellan
An investment fund company in California called Shah Capital has made an offer to purchase Magellan. Magellan is owned by a company called Thales and if the deal goes through Thales would sell their Magellan GPS business to Shah Capital for $170 million.
This wouldn’t be the first time Shah Capital has acquired a business from Thales. Shah Capital previously purchased another Thales company which makes electronic cards.
Shah Capital’s offer would pay Thales $110 million initially for the Magellan GPS business and the other $60 million would be paid over five years. Magellan GPS has reportedly been for sale since last year.
[...] Previously we told you about the offer from Shah Capital to buy Magellan from Thales. We received word today that a purchase agreement has been signed so it looks like Magellan will indeed change hands. [...]