After a sometimes contentious takeover bid and the departure of a CEO, Coleman Cable, Inc., Waukegan, Ill., and Technology Research Corp., Clearwater, Fla., at last announced a definitive merger agreement that will add significant breadth in power management and battery backup systems to a further expansion of Coleman's operations beyond wire and cable.

Under the terms of the agreement, which have been approved by both companies' boards, Coleman will acquire all outstanding shares of TRC for $7.20 per share in cash in a transaction valued at approximately $51.5 million on a fully diluted basis. The cash consideration represents a premium of approximately 84.6 percent to TRC's closing share price on January 14, 2011, the last trading day before TRC announced Coleman's interest in a deal. (Coleman's original offer of $5.50 per share was already a 46 percent premium over TRC's stock price at the time.) The transaction will be funded with Coleman's cash on hand and existing borrowing facilities, and is not subject to any financing condition.

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