Gores Portfolio Co Taking PECO III Private

Lineage Power Holdings Inc., a portfolio company of Gores Group, has agreed to acquire PECO II Inc. (Nasdaq: PIII), a Galion, Ohio-based provider of engineering and on-site installation services related to communications power systems and power distribution equipment. The deal is valued at around $16.7 million, with PECO stockholders to receive $5.86 per share (51% premium to yesterday's closing price).

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