Networking cable maker Belden (BDC -1.1%) trades lower after stating it will make a C$22/share...

|About: Belden Inc. (BDC)|By:, SA News Editor

Networking cable maker Belden (BDC -1.1%) trades lower after stating it will make a C$22/share ($C280M) offer for RuggedCom, a Canadian maker of industrial-grade networking gear. RuggedCom says it has formed a special committee to evaluate Belden's proposal. Its shares are currently trading at C$22.66 on the Toronto exchange (up 66.5%), which suggests investors expect a higher bid.