Barclays Maintains an 'Equalweight' on Tekelec (TKLC); Company to be Acquired for $780M

Barclays maintains an 'Equalweight' on Tekelec (NASDAQ: TKLC), raises price target from $8 to $11.

Barclays analyst says, "Deal represents per-share value of $11.00: Under the terms of the agreement, all outstanding shares of Tekelec's common stock will be acquired for $11.00 in cash, an 11% premium over the closing price on November 4, 2011, and 38% premium over the 30-day average closing price of Tekelec common stock. Shares are currently trading well above the bid price, suggesting investors are anticipating a higher offer."

For an analyst ratings summary and ratings history on Tekelec click here. For more ratings news on Tekelec click here.

Shares of Tekelec closed at $11.29 yesterday.

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