CUI jumps over 50% on deal to sell majority of power business

Orbital Infrastructure

11/11/2019 13:28

** CUI Global Inc's shares  CUI.O  surge 54.9% to $1.1
premarket; stock set for its best day in over 14 years and to be
top Nasdaq gainer  
    ** CUI, which makes natural gas metering and sampling
devices, to sell majority of its power business to electronic
circuit component maker Bel Fuse  BELFA.O  for $32 mln
 urn:newsml:reuters.com:*:nPn4GLvYha
    ** Stock, which had a market cap of $20.4 mln as of Friday's
close, last traded above $1 in early June
    ** CUI will now move to a "aggressive and disciplined"
acquisition strategy, CEO Jim O'Neil says
    ** CUI down 42.3% YTD; BELFA about flat this year

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223
8780; Twitter: @sampath_uday; Reuters Messaging:
UdaySampath.Kumar.thomsonreuters.com@reuters.net))