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21 мая 2008

It's going to be an all cash transaction... Comtech Telecommunications Corporation and Radyne Corporation have signed a definitive merger agreement, with the former to acquire the latter.

Tallying the combined sales of both companies for the four fiscal quarters, ended January 31, 2008, would have been US$651.5 million. This is based on Comtech's sales of US$504.3 million and Radyne's sales of US$147.2 million. Comtech will make a first step cash tender offer at US$11.50 per share, representing a premium of about 33 percent over Radyne's average closing price over the last 90 trading days. Once that step is completed, it will be followed by a merger at the same price. The strategic benefits of the transaction to Comtech:

  • Expands Comtech's satellite earth station product portfolio and introduces Radyne's innovative shared bandwidth satellite networking solution, known as SkyWire, to expand and diversify its addressable market
  • Immediately positions Comtech as a leader in the satellite earth station traveling wave tube amplifier market and expands Comtech's existing solid state power amplifier market product portfolio
  • Diversifies Comtech's global customer base
  • Drives further innovation by taking advantage of combined engineering and sales teams that are expected to deliver new and advanced satellite earth station products to the marketplace
  • Drives significant operating efficiencies by eliminating redundant functions and related expenses
  • Strategically redeploys Comtech's excess cash to enhance earnings per share

Radyne's Xicom satellite earth station amplifier business, AeroAstro microsatellite business and Tiernan broadcast encoding and transmission business will continue to operate as independent product lines to maintain their high levels of focus on their customers.

Источник: http://www.satnews.com

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