WTT - Wireless Telecom Group climbs 30% on acquisition by Maury Microwave
2023-05-25 07:19:11 ET
- Maury Microwave will acquire Wireless Telecom Group ( NYSE: WTT ) for total cash consideration of $2.13 per share.
- The represents a consideration per share represents a premium of 34% to the company’s closing share price as of May 24 and a premium of 50% since the date of the announcement of the strategic alternatives process in July 2022.
- Closing expected in Q3 2023.
- WTT’s current CEO, Tim Whelan will step aside at the close of the transaction and the company will continue to be managed by its remaining leadership team led by Daniel Monopoli, WTT’s CTO and GM of the Test & Measurement segment and Mike Kandell, WTT’s CFO.
- The stock price has s caled about 30% on this news.
For further details see:
Wireless Telecom Group climbs 30% on acquisition by Maury Microwave