CRNT - Ceragon Networks confirms receipt of revised takeover bid from Aviat
- Ceragon Networks ( NASDAQ: CRNT ) confirmed on Wednesday that it received a revised takeover proposal from Aviat Networks ( NASDAQ: AVNW ).
- Late Tuesday, Aviat Networks ( AVNW ) submitted a revised nonbinding proposal to the Ceragon Board, raising its bid to acquire all of the outstanding shares of telecom equipment firm for $3.08/share.
- AVNW said the increased consideration would be comprised of $2.80/share in cash and $0.28 in equity consideration of AVNW stock.
- The revised $3.08/share offer represents a 47.4% premium to Ceragon's ( CRNT ) closing price on June 27, the last trading day before Aviat ( AVNW ) revealed its initial offer of $2.80/share .
- The bid is now up for review at Ceragon ( CRNT ).
- Ceragon ( CRNT ) recently reported a mixed set of Q2 results and reaffirmed its 2022 and 2023 revenue guidance.
- CRNT shares have gained over 9% pre-market
For further details see:
Ceragon Networks confirms receipt of revised takeover bid from Aviat