Zoran (ZRAN) Announces $2.92/Share Acquisition of Microtune (TUNE)
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Zoran Corporation (Nasdaq: ZRAN) announces that they have entered an agreement to acquire Microtune, Inc. (Nasdaq: TUNE) for $2.92 per share in cash, or $84 million net of cash acquired.
The transaction is expected to close upon Microtune shareholder approval. Both boards have approved the merger.
Zoran expects the acquisition to be accretive immediately following the close of the deal, which is expected to be in the fourth quarter of 2010.
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The transaction is expected to close upon Microtune shareholder approval. Both boards have approved the merger.
Zoran expects the acquisition to be accretive immediately following the close of the deal, which is expected to be in the fourth quarter of 2010.
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