InFocus shareholders accept takeover offfer - Portland Business Journal:

http://mastewoker.blog.com/2011/04/08/sliding-doors-by-yourself/
Hui’s planned acquisition of the Wilsonville-basedd projector maker was contingent upon a tender offer of at leas 65 percent ofoutstanding shares. The offerr closed Friday, with 91 percent of all outstanding shareas validly tendered ornot withdrawn. The InFocus board on May 15 announcefd that it had acceptedthe $39 million, or 95 cents per deal offered by Hui’s , while rejecting an unidentifiedx second bidder the board said failed to submity a binding proposal despite three weeks of negotiations. Huil said Tuesdaty the acquisition will close by the end of this After the shareschange hands, he will merge InFocuse into Image Holdings.
Hui, who has said little aboutg his plansfor InFocus, is known mostlt as principal founder of computer-maker Inc, raising it from its infanc to a company with revenue exceeding $1 billion. He took eMachine private in December 2001 in a deal valuedat $152 millio and three years later sold the company to in a roughlu $290 million cash and stock deal. Aftetr being rebuffed in a 2006 attempt to buy Gatewaufor $450 million, Hui acquired a 75 percentf stake in Dutch computer distributor for an undisclosec amount, though some published reports called it a $90 million A year later, he sold his controllin interest in Packard Bell to Gatewayu for an undisclosed amount.
Amongv his current ventures is Fugoo, a start-up with fellosw eMachines alums that is developing a product to enable household appliances and other products to communicatw viathe Internet. is a partner in the InFocus is considered a pioneerf in digital projection technology and was first to market with innovativedigitapl projectors. But a deluge of Asiahn competitors drove projectorprices lower, makinh it an unprofitable business for a small companu like InFocus.
“InFocus is a great brand and I assign significant value tothe company’s extensivse network of channel innovative history and product leadership,” Hui said in a news “I look forward to workingb with the InFocus managementf to return the company to a dominant position in the InFocus CEO Bob O’Malley called Hui’es pending acquisition just another chaptedr in InFocus’ evolving story. “We will be able to shed the complexitu of the publicfinancial markets, prioritize longer-term objectives and focus on what mattersd most to our customers delivering innovative projection solutions.
” Thomas Weisel Partners LLC served as financialk advisor to InFocus and its board of directors, and Garveu Schubert Barer acted as legal advisor.