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Paul Hastings Reps Kratos In $270M Herley Buy

Law360 (February 8, 2011, 5:52 PM EST) -- Defense contractor Kratos Defense and Security Solutions Inc. has agreed to pick up microwave technology manufacturer Herley Industries Inc. for about $270 million in an effort to expand its presence in the intelligence and surveillance industries.

Kratos announced Monday that the San Diego company will make an all-cash tender offer of $19 per share to pick up outstanding stock in Herley, which provides its microwave technology to the defense, aerospace and medical industries.

To help pay for the acquisition, Kratos will publicly offer its common stock...
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