Discovery Equity Partners to nominate two to Radyne board

By Lisa Kerner

Charlotte, N.C., Feb. 13 - Radyne Corp. investors led by Discovery Equity Partners, notified the company of their intention to nominate Daniel J. Donoghue and Michael R. Murphy for election to the company's board of directors at the 2008 annual meeting.

Discovery Equity said it believes the board has refused to consider offers to purchase the company "that would provide a significant premium to shareholders of the company," according to a schedule 13D filing with the Securities and Exchange Commission.

If elected, Donoghue and Murphy intend to support Radyne's exploration of strategic alternatives.

The company announced on Feb. 4 it would consider alternatives with the assistance of Needham & Co.

In November, Discover Equity demanded to inspect and photocopy books and records of the company for the period from Jan. 1, 2006 through Nov. 6.

The investors own 1,495,825 shares, or 8%, of the Phoenix-based communications products company.

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