03:53 PM EST - Norsat International Inc. : Announced that the Special Committee comprising all of the Independent Directors of the Board of Directors, in consultation with the Company's legal and financial advisors, have reviewed and considered an updated unsolicited proposal from Privet Fund Management LLC to acquire the Company for cash consideration of $11.50 U.S. per share. Privet has indicated that it is prepared to sign a definitive agreement on non-financial terms and conditions substantially identical to the existing arrangement and amending agreement with Hytera but with an increase to the mutual termination fees from $2.5 million U.S. to $3.0 million U.S. Norsat International Inc.
shares T.NII are trading down $0.17 at $14.98.
