Ulticom (ULCM) To Be Acquired by Platinum Equity; Deal Valued at $8.07 Per Share
Ulticom, Inc. (Nasdaq: ULCM) announced that they have agreed to be acquired by Platinum Equity, LLC for a consideration of $2.33 per share in cash, after payment of a special dividend in the amount of $5.74 per share in cash.
The $8.07 per share to be received by shareholders represents approximately a 5% premium to the closing price of the Company's common stock on October 11, 2010 and approximately a 4% premium to the average closing price for the prior 30 days.
The transaction is expected to close in the fourth quarter of 2010.
Morgan Keegan Technology Group acted as lead financial advisor to Ulticom and Duff & Phelps, LLC also provided a fairness opinion to Ulticom’s Board of Directors.
Weil, Gotshal & Manges LLP acted as legal counsel to Ulticom in the transaction and Flaster/Greenberg P.C. acted as special New Jersey Counsel to Ulticom. Paul, Hastings, Janofsky & Walker LLP acted as legal counsel to Platinum Equity.
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The $8.07 per share to be received by shareholders represents approximately a 5% premium to the closing price of the Company's common stock on October 11, 2010 and approximately a 4% premium to the average closing price for the prior 30 days.
The transaction is expected to close in the fourth quarter of 2010.
Morgan Keegan Technology Group acted as lead financial advisor to Ulticom and Duff & Phelps, LLC also provided a fairness opinion to Ulticom’s Board of Directors.
Weil, Gotshal & Manges LLP acted as legal counsel to Ulticom in the transaction and Flaster/Greenberg P.C. acted as special New Jersey Counsel to Ulticom. Paul, Hastings, Janofsky & Walker LLP acted as legal counsel to Platinum Equity.
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