Forum: WHALER
  ContinuousWave
  Whaler
  Moderated Discussion Areas
  ContinuousWave: The Whaler GAM or General Area
  LOWRANCE subject to take over

Post New Topic  Post Reply
search | FAQ | profile | register | author help

Author Topic:   LOWRANCE subject to take over
jimh posted 01-18-2001 12:48 AM ET (US)   Profile for jimh   Send Email to jimh  
LOWRANCE, makers of the first and perhaps the best fishfinders for the recreational marine market, appear about to be taken over:


-----begin Press Release----

Cobra Electronics Commences Its Tender Offer for Lowrance Electronics

PR Newswire, Tuesday, January 16, 2001 at 07:05

/FROM PR NEWSWIRE CHICAGO 888-776-6551/ [STK] COBR LEIX [IN] CPR ECM [SU] TNM TO BUSINESS AND
TECHNOLOGY EDITORS:

Cobra Electronics Commences Its Tender Offer for Lowrance Electronics

CHICAGO, Jan. 16 /PRNewswire/ -- Cobra Electronics Corporation (NASDAQ:COBR) today commenced its previously announced tender offer for all of the common stock of Lowrance Electronics, Inc. (NASDAQ:LEIX) at a purchase price of $8.25 per share in cash. Cobra is making the tender offer pursuant to an agreement and plan of merger dated January 4, 2001. The tender offer will expire at midnight, New York City time, on Monday, February 12, 2001, unless extended.

The acquisition brings together premier companies from the two-way mobile communications, SONAR, marine and recreational GPS businesses, combining their complementary products and customers and extending Cobra's global reach.

American Stock Transfer and Trust Company is the depositary for the tender offer. Morrow & Co., Inc. is the information agent.

For additional information, please contact Morrow & Co., Inc. at (800) 607-0088.

About Cobra Electronics

Forbes named Cobra Electronics Corporation (NASDAQ:COBR) to its list of "200 Best Small Companies in America" in 2000.
Cobra is a leading global manufacturer of two-way mobile communications products, holding the number one or strong number two position in every major market in which it does business. The Family Radio Service (FRS) business is one of the fastest growing segments of two-way mobile communications, and Cobra is a leading FRS player in the U.S., Canada and Europe.
Cobra has a 40-year track record of innovation and award-winning products, and leads the industry in developing technology
applications that anticipate market demand. To learn more about Cobra Electronics and its products, please visit the Cobra site at http://www.cobraelectronics.com .

This news release does not constitute an offer to purchase or a solicitation of an offer to sell any securities. The complete
terms and conditions of the tender offer are set forth in an offer to purchase and a related letter of transmittal, which are
included in a Tender Offer Statement that is being filed today with the Securities and Exchange Commission. The offer to purchase and related letter of transmittal will be mailed to Lowrance's stockholders. The Tender Offer Statement (including the offer to purchase, letter of transmittal and related documents) will also be available for free on the Commission's Web site at
http://www.sec.gov .

CONTACT: Investor, Gerald M. Laures, Vice President, Finance, of Cobra Electronics Corporation, 773-804-6216, or
glaures@cobraelectronics.com, Media Larry Larsen of Fleishman-Hillard, 312-751-3617, or larsenl@fleishman.com, for Cobra Electronics.

SOURCE Cobra Electronics Corporation

-0- 01/16/2001

/CONTACT: Investor, Gerald M. Laures, Cobra Electronics Corporation Vice President, Finance, 773-804-6216, or
glaures@cobraelectronics.com, Media, Larry Larsen of Fleishman-Hillard, 312-751-3617, or larsenl@fleishman.com, for Cobra
Electronics Corporation/

/Web site: http://www.cobraelectronics.com /

Companies or Securities discussed in this article:
NASDAQ:LEIX Lowrance Electronics, Inc.
NASDAQ:COBR Cobra Electronics Corporation

dgp posted 01-18-2001 09:49 AM ET (US)     Profile for dgp  Send Email to dgp     
FYI, like Zebco, Lowrance has moved all of it's manufacturing out of Tulsa to China and Mexico respectively. Don
triblet posted 01-18-2001 10:24 AM ET (US)     Profile for triblet  Send Email to triblet     
Cobra has always struck me as the low-end
supplier, while Lowrance has struck me as
making good stuff, but kinda stuck behind
Humminbird and Garmin in the Fishfinder
and GPS markets respectively.

I hope Cobra doesn't drag Lowrance down
to their level.

Chuck

jimh posted 01-18-2001 12:59 PM ET (US)     Profile for jimh  Send Email to jimh     
Exposed to Cobra in the audio and two-way radio markets, I would agree with Chuck--their products do not occupy a top shelf position.

Lowrance, on the other hand, does seem to be a first-tier maker of marine electronics.

The tender offer makes owning their stock quite a good investment. Shares of Lowrance were selling in the $2-range in December. (The offer price is $8.25 .)

jimh posted 01-18-2001 01:04 PM ET (US)     Profile for jimh  Send Email to jimh     
Correct me if I am wrong, but I believe that Lowrance made the first depthsounder/fishfinder for marine recreation. It was a flasher style unit.

--jimh

bigz posted 01-18-2001 01:59 PM ET (US)     Profile for bigz    
http://www.lowrance.com/company/history.asp

You can read all about them here --- you ain't wrong James ---

PS don't think you'll see a decrease in quality -- for the money they are still one of the best buys in fish finders and sonar --
Z

Keith Silliman posted 01-19-2001 06:18 AM ET (US)     Profile for Keith Silliman    
I have the Lowrance handheld GPS unit ad consider it a high end unit. In fact, until Lowrance made the individual components of their handheld system available separately, the package cost was almost prohibitive. The ability to download specific maps and to pull detailed topographic data from the USGS (for hiking) makes this a tremendous tool.

If anything, I hope that COBRA will use this aquisition to improve their image.

Keith

james cosby posted 01-19-2001 12:54 PM ET (US)     Profile for james cosby  Send Email to james cosby     
I was sad to hear that Lowrance is being taken over by COBRA. Here in Tulsa we just suffered the loss of Zebco who was the innovator of spin-cast and most other modern fishing gear. Like Zebco, Lowrance was the innovator of depth-sounders and graphs that we all use today. Since Zebco has went over seas the quality of their equipment has fallen. I use Lowrance graphs and GPS on my Whaler, and don't mind paying extra for them since they seem to be better quality than the competition. I hope that Lowrance can stay in Tulsa and keep the quality of their products as high as they are now. If a person want Lowrance electronics on their boats, now may be the time to purchase them. JC

Post New Topic  Post Reply
Hop to:


Contact Us | RETURN to ContinuousWave Top Page

Powered by: Ultimate Bulletin Board, Freeware Version 2000
Purchase our Licensed Version- which adds many more features!
© Infopop Corporation (formerly Madrona Park, Inc.), 1998 - 2000.