Voxx to be acquired by Gentex for $7.50 per share in cash

Voxx International (VOXX) announced that Voxx and Gentex (GNTX) have entered into a definitive agreement and plan of merger for Gentex to acquire Voxx in an all-cash transaction. Under the terms of the Merger Agreement, Gentex will acquire all of the issued and outstanding shares of Voxx common stock not already owned by Gentex for $7.50 per share, representing an aggregate enterprise value of approximately $196M. The proposed transaction, which was approved by Voxx’s Board of Directors, acting on the unanimous recommendation of a transaction committee of the Board of Directors comprised entirely of directors unaffiliated with Gentex, is expected to close during the first quarter of calendar year 2025. The proposed transaction is subject to stockholder approval, receipt of anti-trust regulatory approvals and other customary closing conditions.