Stay Weather Aware: Snow showers create slick driving conditions Friday morning

Olathe-based electronics manufacturer selling to New Hampshire company

One of the Kansas City area’s few remaining over-the-counter stocks is to sell for for $48 million in cash, which includes assuming about $1.4 million in debt.

Olathe-based custom electronics manufacturer Torotel Inc. (OTC: TTLO) reached an agreement to be acquired by Standex International Corp. The deal also includes the Salem, N.H.-based company (NYSE: SXI) absorbing about $8 million in transaction costs incurred by Torotel.

The transaction requires approval of holders of two-thirds of Torotel’s outstanding shares. However, officers, executives and significant shareholders representing about 62% of Torotel’s shares already have signed commitments to vote their shares in favor of the transaction.

Click here to read more about this story from the Kansas City Business Journal, a FOX4 reporting partner.

Notice: you are using an outdated browser. Microsoft does not recommend using IE as your default browser. Some features on this website, like video and images, might not work properly. For the best experience, please upgrade your browser.