Publication: The Register
Orange County, CA, United States
ITE Imperial, Gould Merger Completed
NEW YORK (AP) -- Completion of the merger of I-T-E Imperial Corp. into Gould Inc. was announced Friday.
Gould develops and manufactures electrical and industrial products, including batteries and electronic equipment. It has annual sales of approximately $1.3 billion.
I-T-E, now a subsidiary manufactures equipment for the transmission, distribution, conservation and control of electrical energy.
Under terms of the agreement, approved by stockholders of both companies, each I-T-E share, other than those owned by Gould, will be converted into 0.83 of a share of Gould common stock.