Comtech's tender offer for Radyne extended to July 15

By Lisa Kerner

Charlotte, N.C., June 23 - Comtech Telecommunications Corp.'s subsidiary, Comtech TA Corp., extended the expiration date of its $11.50-per-share tender offer for Radyne Corp. to midnight ET on July 15.

As of June 20, a total of 16,712,593 Radyne shares, or 88% of the shares subject to the offer, had been tendered.

The Hart-Scott-Rodino waiting period in the proposed merger is scheduled to expire on June 30, a Comtech news release said.

In May, Radyne agreed to be acquired by Comtech in an all-cash transaction valued at $223.6 million.

Under the merger agreement, Comtech will make a first-step cash tender offer followed by a merger at the same $11.50-per-share price, it was previously reported.

Radyne, a Phoenix communications products company, canceled its May 12 earnings conference call due to the merger announcement.

Comtech, based in Melville, N.Y., is a communications solutions company operating in three segments: telecommunications transmission, mobile data communications and RF microwave amplifiers.

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