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Investment firms look to buy out Australian photo enforcement company Redflex. An investment firm may buy out another major provider of red light cameras and speed cameras. Redflex Traffic Systems, based in Melbourne, Australia, operates about one-half of the photo enforcement devices in the United States. The company announced today that it has been approached by unnamed suitors carrying generous offers. "In recent weeks, Redflex has been approached by several parties expressing interest in acquiring 100 percent of the issued capital of the company," a release to Australian Securities Exchange investors stated. "The board has now received multiple nonbinding indicative proposals from credible parties to acquire the company at indicative values in excess of $3.50 per share." As late as Wednesday Redflex stock had been trading... [read full story]
