Bel Fuse Inc. announced that it has reduced its investment in Toko Inc. to 1,840,919 common shares, or approximately 1.9% of the shares outstanding, from 5,874,919 shares, or 6.02%.
"Since our initial investment in Toko in 2005, it was always our desire to combine the strengths of the two companies in a mutually beneficial, friendly transaction. While we continue to believe that a friendly transaction makes sense for the shareholders of both companies, Toko management has refused to negotiate with us. If conditions change, we may reconsider how to proceed with Bel’s investment in Toko," said Bel CEO Daniel Bernstein.
