Corporate Acquisitions

CPI agrees to Veritas Capital takeover

Forbes |

In Brief...

CPI International Inc. said Friday it has agreed to a buyout offer of $19.50 per share from private equity firm Veritas Capital, a price that values the company at about $328 million.. The companies broke that deal off in September and Comtech paid a termination fee of $15 million.. The higher bid from Veritas represents a premium of 35 percent over CPI's closing share price Wednesday of $14.47.. CPI shares jumped $4.93, or 34 percent, to $19.40 ahead of regular trading Friday..

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