Radyne rockets, to be acquired by Comtech for $223.6M
Shares of Radyne Corp. (Nasdaq:RADN) are soaring this morning after the communications equipment company said it will be acquired by Comtech Telecommunications Corp. (Nasdaq:CMTL) in an all-cash transaction for $223.6 million, or $11.50 per share. The purchase price represents a 33% premium over Radyne's average closing price over the last ninety trading days.
Shares leaped 44%, or $3.44, to $11.18 at 10:05 a.m. ET. For detailed price information and recent news stories about Radyne, click RADN.
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