Electro-Sensors to be Acquired for $7.75/Share in Cash

Electro-Sensors, Inc. has entered into a definitive Agreement and Plan of Merger with steute Industrial Controls, Inc. and its wholly-owned subsidiary, Steute Burwell, Inc. Under the terms of the agreement, Electro-Sensors will merge with Steute Burwell, Inc., becoming a wholly-owned subsidiary of steute Industrial Controls, Inc. Each outstanding share of Electro-Sensors common stock will be converted into the right to receive $7.75 in cash. The company's board of directors has approved the merger and recommends that shareholders vote in favor of the transaction, which is subject to customary closing conditions.