Skadden, Proskauer Rep Comtech In $473M Tech Deal

Law360, New York (May 10, 2010, 1:54 PM EDT) -- Comtech Telecommunications Corp. has announced that it will pay $473.3 million to acquire CPI International Inc., a provider of microwave and radio frequency solutions for the defense and medical device industries, among others.

The companies announced the cash-and-stock deal Monday. Comtech said it would fund the acquisition by redeploying around $372 million of its existing cash and issuing around 4.4 million shares of common stocks.

CPI shareholders will receive a combination of cash and stuck currently valued at $16.40 per CPI common share, based on the...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.