Arcline Investment Management to Acquire AstroNova for $272 Million

Under the terms of the deal, shareholders will receive $29 per share, a significant jump from the $16.69 price recorded at the close of trading on Tuesday. The acquisition arrives following a comprehensive review of strategic alternatives conducted by the company’s leadership.

AstroNova’s board has already granted unanimous approval for the sale. The transaction remains subject to customary closing conditions, including a vote by company shareholders, and is currently slated to finalize in the third quarter of this year.