09:40 AM EST - Sirit Inc. : announced that it has amended its definitive arrangement agreement with Federal Signal Corp. As per the terms of the amendment, Federal Signal will acquire all of the issued and outstanding common shares of Sirit for cash consideration of $0.43 per share by way of a court approved plan of arrangement under the Business Corporations Act (Ontario), an increase of $0.13 per share or 43% over the original cash consideration. The transaction has a total equity value of about $72 million. Federal Signal said that it increased its offer following Sirit's recent receipt of an unsolicited and non-binding acquisition proposal. Sirit Inc.
shares T.SI are trading even at $0.30.
