News Article
Anaren Microwave makes a bid for Celeritek
After signaling its intentions by taking a stake in Celeritek in July, Anaren Microwave has now issued a full bid for the company
GaAs IC manufacturer Celeritek has received a merger offer worth $8.75 per share from Anaren Microwave. Anaren has made it clear since taking a 6.35% stake in Celeritek that it desires a merger with the company. So far Anaren’s wishes have drawn an unenthusiastic response from Celeritek’s management.
Anaren says that it expects to be able to complete the due diligence process within weeks and that the offer will expire on October 1. Celeritek’s shares closed up nearly 16% at $7.95 on September 20 after the news of the offer broke.
