Northland Capital Markets Downgrades TeleCommunication Systems (TSYS) to Market Perform
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Comtech Telecommunications Corp. to Acquire TeleCommunication Systems, Inc. for $430.8 Million in a Strategic and Cash Accretive Transaction
November 23, 2015 8:02 AM ESTMELVILLE, N.Y. & ANNAPOLIS, Md.--(BUSINESS WIRE)-- Comtech Telecommunications Corp. (NASDAQ: CMTL or Comtech) and TeleCommunication Systems, Inc. (NASDAQ: TSYS or TCS) jointly announced today the signing of a definitive merger agreement under which Comtech will purchase TCS in a cash transaction for $5.00 per TCS share, or approximately a $430.8 million enterprise value. The $5.00 price per share represents a premium of 13.9% as compared to the last closing trading price of TCS common stock, a premium of 28.6% as compared to the volume-weighted average trading price over the last ninety trading days and a premium of 35.1% as compared to the last closing... More
