Bel Acquires 5.0% Of Power-One’s Common Stock
Bel Fuse Inc. announced that it has filed a Schedule 13D with the Securities and Exchange Commission disclosing its acquisition of 4,370,052 shares, or approximately 5.0%, of the outstanding common stock of Power-One, Inc.. The shares were acquired in open market transactions from February 8, 2008 through February 22, 2008 at an aggregate purchase price of approximately $10,123,530.
"We have requested to meet with Power-One to discuss how our companies might work together for the benefit of both, but no meeting has been scheduled to date. We look forward to having the opportunity to share our views with Power-One in the future. In the meantime, we are evaluating a range of options we believe may increase value for all Power-One shareholders," said Daniel Bernstein, President of Bel.