Symmetricom, Inc. to be Acquired by Microsemi Corporation
Posted in the River Rouge Forum
Since: Sep 13
#1 Oct 22, 2013
(CRWE Press Release)-- Microsemi Corporation (Nasdaq:MSCC), a leading provider of semiconductor solutions differentiated by power, security, reliability and performance, and Symmetricom, Inc.(Nasdaq:SYMM), a worldwide leader in precision time and frequency technologies, announced that they have entered into a definitive agreement to acquire Symmetricom, Inc. for $7.18 per share through a cash tender offer, representing a premium of 49 percent based on the average closing price of Symmetricom's shares of common stock during the 90 trading days ended Oct. 18, 2013. The board of directors of Symmetricom unanimously recommends that Symmetricom's stockholders tender their shares in the tender offer. The total transaction value is approximately $230 million, net of Symmetricom's projected cash balance at closing.
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