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Comtech to acquire TCS for USD 430.8 mln in cash

2015-11-23 21:02:00| Telecompaper Headlines

(Telecompaper) Comtech has agreed to acquire TeleCommunication Systems (TCS) for USD 5.00 per share in cash, or a total of USD 430.8 million. The price represents a premium of 13.9 percent compared to the last closing trading price of TCS shares and 35.1 percent over the last closing trading price one day after TCS's announcement in July that it had formed a special committee to explore strategic alternatives to enhance stockholder value. The deal was unanimously approved by the board of directors of both companies.

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Category:Telecommunications

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