Management in turmoil as Labtec nears deal
As Labtec Enterprises Inc. approaches a crucial merger that will take the Vancouver, Wash., company public, both partners are showing signs of strain.
Labtec expects its board and shareholders of Lowell, Mass.-based Spacetec IMC Corp. to approve the merger of the two companies Feb. 17. The companies, which both make products for the computer peripherals marketplace, declined to comment for this story.
But a review of public documents filed in anticipation of the merger suggest that the two potential partners are limping up the aisle.
On Jan. 5, Labtec said it had dismissed its two top executives. …