Radyne rises ahead of the bell on purchase news
Radyne Corporation (Nasdaq:RADN) shares rose slightly ahead of the bell Monday after it was announced that Comtech Telecommunications Corp. (Nasdaq:CMTL) had been given an early termination for its waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. Comtech offered to purchase all issued and outstanding shares of Radyne’s common stock for $11.50 per common share. Radyne closed at $10.95 on Friday but was up 4.2% to $11.41 in pre-market trading on Monday. The deal is set to expire on July 15.
Radyne is a Phoenix-based producer of satellite, microwave and cable communication networks. Comtech is a Melville, N.Y-based communication solutions manufacturer.
For detailed price information and recent news stories on Radyne Corporation, click RADN. For information on Comtech Telecommunications Corp., click CMTL.
