Affiliate of Veritas Capital to Pay $28.00 Per Share<\/p>\n
Anaren, Inc. announced today the signing of a definitive merger agreement under which Anaren will be acquired by an affiliate of The Veritas Capital Fund IV, L.P. (Veritas Capital) for $28.00 per share in cash. The purchase price reflects a premium of approximately 12.4 percent over the closing price of Anaren common stock of $24.91 on November 1, 2013, the last day of trading prior to this announcement, a 42.8 percent premium over the closing price of Anaren common stock of $19.61 on April 15, 2013, which was the last close of trading before Vintage Capital Management, LLC (Vintage Capital) made an offer of $23.00 per share following the close of trading on April 15, 2013, and a 21.7 percent premium over the $23.00 per share offer from Vintage Capital.<\/p>\n
The transaction is valued at approximately $381 million. The Independent Committee of Anaren\u2019s Board of Directors unanimously recommended and the Board unanimously approved the merger agreement.<\/p>\n
\u201cVeritas Capital is pleased to be associated with Anaren, which has a long history of providing market-leading technology and products to the defense, wireless communications, medical and industrial markets. We are excited to support Larry Sala and his talented team in continuing to provide customers with cost effective and advanced solutions, and in accelerating the growth of the company\u2019s innovative technologies in current and adjacent markets,\u201d said Hugh Evans, Partner of Veritas Capital.<\/p>\n
\u201cWith its extensive technology and industry experience and strong track record of fostering growth in its portfolio companies, Veritas Capital is an excellent partner for Anaren. Our board of directors and management team believe this transaction provides significant value for our shareholders and will provide considerable benefits for Anaren\u2019s customers and employees,\u201d said Larry Sala, Anaren\u2019s Chairman, President and CEO. \u201cWe are very excited by the prospect of working with Veritas Capital, leveraging their expertise and financial resources to continue to grow Anaren\u2019s business while providing our customers with state-of-the-art technology, high quality products and best-in-class customer service that they have come to expect from Anaren. We will continue to support all the customers, markets and product areas in which we are currently involved.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Affiliate of Veritas Capital to Pay $28.00 Per Share Anaren, Inc. announced today the signing of a definitive merger agreement under which Anaren will be acquired by an affiliate of The Veritas Capital Fund IV, L.P. (Veritas Capital) for $28.00 per share in cash. The purchase price reflects a premium of approximately 12.4 percent over the closing price of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[],"class_list":["post-79479","post","type-post","status-publish","format-standard","hentry","category-news"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/79479"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=79479"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/79479\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=79479"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=79479"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=79479"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}