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Anaren shareholders clear buy by Veritas Capital.


10 February 2014 - US microwave component assemblies and subsystems maker Anaren Inc (NASDAQ:ANEN) said its stockholders had approved its pending acquisition by The Veritas Capital Fund IV LP.

Veritas Capital agreed on 4 November 2013 to buy Anaren for an aggregate USD381m (EUR279.4m) in cash. Under the terms of the transaction, Veritas Capital affiliate ANVC Holding Corp's fully-controlled unit ANVC Merger Corp will merge into Anaren, with the latter continuing as a wholly-owned subsidiary of ANVC Holding.

The price of USD28.00 per Anaren share is 12.4% higher than the target's closing share price on 1 November. The offer also delivers a 21.7% premium to the USD23.00 a share unsolicited buyout bid made by shareholder Vintage Capital Management LLC last April.

The deal is not contingent on a financing condition but hinges on certain closing conditions. It is seen to be finalised on or around 14 February, the target said.

Country: USA

Sector: Electronics

Target: Anaren Inc

Buyer: The Veritas Capital Fund IV LP , ANVC Holding Corp

Deal size in USD: 381m

Type: LBO

Status: Agreed

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Publication:M & A Navigator
Date:Feb 10, 2014
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