Aviat Submits Revised Offer to Acquire Ceragon Networks
Friday, August 05, 2022 | Comments

Aviat Networks submitted a revised offer to acquire Ceragon Networks. Under the offer, Aviat would pay $2.80 in cash and $0.28 in equity consideration for each share of Ceragon stock.

Aviat said that the new offer represents of a 47% increase over the $2.09 closing price of Ceragon stock on June 27, which was the last close price prior to Aviat’s first public offer.

“Since we publicly announced our proposal to acquire Ceragon on June 27, 2022, we have spoken with Wall Street analysts and many Ceragon shareholders, who have recognized the compelling strategic logic of such a combination," said Aviat President and CEO Peter Smith. "In addition to offering immediate and certain value to Ceragon shareholders, our transaction will create significant synergy opportunities, and provide the combined company with the scale and reach to innovate more, expand revenue opportunities and enhance addressable market capture. Ceragon shareholders have told us clearly that they would also like to benefit from the combination over time. We have addressed this in our revised proposal through the addition of an equity component, which provides Ceragon shareholders with a compelling opportunity for both near and long-term value creation.”

The Ceragon board of directors confirmed that it had received the non-binding offer from Aviat and said it would review and evaluate the new proposal to determine the best course of action for the company.

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