News & Events

C&D Technologies, Inc. and affiliates of Angelo, Gordon & Co. entered into a definitive merger agreement, pursuant to which C&D will be acquired by an affiliate of Angelo, Gordon & Co. in an all-cash transaction for $9.75 per share.  The deal is expected to close in the fourth quarter of this calendar year.  Under the terms of the merger agreement, each outstanding share of C&D common stock not owned by Angelo, Gordon & Co. or its affiliates will be converted into the right to receive $9.75 in cash, subject to the terms and conditions of the merger agreement.  Shareholders affiliated with Angelo, Gordon & Co. currently hold approximately 65% of the outstanding shares of C&D’s common stock.

C&D is a leading manufacturer, marketer and distributor of electrical power storage systems for the standby power storage market. C&D primarily manufactures and markets integrated reserve power systems and components for the standby power market, which include telecommunications, uninterruptible power supply cable services and utilities and renewable energies. Integrated reserve power systems monitor and regulate electric power flow and provide backup power in the event of a primary power loss or interruption. C&D also produces the individual components of these systems including reserve batteries, power rectifiers, system monitors, power boards and chargers.  Major applications of these products include wireless and wireline telephone infrastructure, cable television signal powering, corporate data center powering, computer network backup for use during power outages and renewable energy integration. 

The Simpson Thacher team representing Angelo, Gordon & Co. includes David Eshmoili (M&A), Steve Todrys and Christian Miller (Tax), Alvin Brown and Samantha Shipp (Executive Compensation and Employee Benefits) and Adeeb Fadil (Environmental)