Anaren To Be Acquired By Veritas Capital's Affiliate For About $381 Mln

(RTTNews) - Wireless communications components maker Anaren, Inc. (ANEN) has agreed to be acquired by an affiliate of The Veritas Capital Fund IV, L.P. for $28.00 per share cash. The purchase price reflects a premium of around 12.4 percent over the closing price of Anaren common stock of $24.91 on November 1, 2013, the last day of trading prior to this announcement, a 42.8 percent premium over the closing price of Anaren common stock of $19.61 on April 15, 2013, which was the last close of trading before Vintage Capital Management, LLC made an offer of $23.00 per share following the close of trading on April 15, 2013, and a 21.7 percent premium over the $23.00 per share offer from Vintage Capital. The transaction is valued at nearly $381 million.

The Independent Committee of Anaren's board unanimously urged and the board unanimously approved the merger deal. The transaction is subject to Anaren shareholder approval, and is also subject to customary regulatory and other closing conditions; while it is not subject to any financing conditions.

The Company and the Independent Committee's financial and legal advisors are Moelis & Company LLC, Houlihan Lokey Capital, Inc., Bond Schoeneck & King, PLLC and Dorsey & Whitney LLP, respectively. Veritas Capital's legal advisor is Skadden, Arps, Slate, Meagher & Flom LLP.