Tekelec sells for USD 780 mln to private equity firms

Monday 7 November 2011 | 15:08 CET | News
Tekelec announced that it has entered into a definitive agreement to be acquired by a consortium led by Siris Capital Group for USD 780 million. The buyers also include affiliates of the ComVest Group, funds and accounts managed by GSO Capital Partners, Sankaty Advisors, ZelnickMedia and other Siris partners and affiliates. They will pay USD 11 cash per share for the mobile internet systems provider, a 11 percent premium over the closing share price the day before the announcement and a 38 percent premium over the 30-day trading average. The deal is expected to close during the first quarter

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Categories: Mobile & Wireless
Companies: Airvana / Tekelec
Countries: World
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