Comtech, Radyne merger granted early termination of HSR waiting period

By Lisa Kerner

Charlotte, N.C., June 30 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed merger of Comtech Telecommunications Corp. and Radyne Corp.

Comtech's $11.50-per-share tender offer for Radyne is slated to end at midnight ET on July 15, a Comtech news release said.

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

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, according to a prior news release.

Radyne is a Phoenix communications products company.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.