Microsemi Corporation to Acquire Symmetricom, Inc.
Microsemi Corporation and Symmetricom, Inc., have announced a definitive agreement for Microsemi to acquire the San Jose, California–based precision time and frequency provider.
The agreement offers stockholders $7.18 per share through a cash tender, representing a premium of 49 percent based on the average closing price of Symmetricom’s shares of common stock during the 90 trading days ended October 18, 2013. The total transaction value is approximately $230 million, net of Symmetricom’s projected cash balance at closing.