Skadden Reps Veritas In $525M CPI Deal

Law360, New York (November 29, 2010, 2:38 PM EST) -- Private equity firm Veritas Capital has announced a plan to buy telecommunications equipment company CPI International Inc. in a deal worth about $525 million.

 

CPI said Friday the companies signed a definitive merger deal that will allow Veritas to pick up CPI for $19.50 per share in cash, months after bigger competitor Comtech Telecommunications Corp. decided not to move forward with its proposed acquisition of CPI.

The bid by Veritas is a premium of about 35 percent over the closing price of CPI stock on...
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