AVNW - Aviat criticizes Ceragon for lack of response to purchase offer meeting request

• Aviat Networks ( NASDAQ: AVNW ) is criticizing acquisition target Ceragon Networks ( NASDAQ: CRNT ) for what it sees as a lack of response to its purchase overtures.
• Just a week ago, Aviat offered to buy the shares of Ceragon that it doesn't already own in a deal valued at $235M .
• And as a 5%-plus shareholder, it called for a shareholder meeting to remove three current Ceragon directors and elect five independent new directors.
• "While your lack of response is disappointing, it is not surprising, given your refusal for several months to engage constructively with us in negotiations regarding a transaction that would deliver compelling value to shareholders," Aviat CEO Peter Smith wrote Wednesday in a letter to Ceragon's board.
• "Your failure to respond over the past week only demonstrates to us, and to our fellow shareholders, that transparency and communication are far from your top priorities. We have come to expect delay tactics from you, but your other shareholders deserve better," Smith continued.

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