Northland Capital Markets Downgrades TeleCommunication Systems (TSYS) to Market Perform
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Comtech Telecom (CMTL) to Acquire TeleCommunication Systems (TSYS) in $430.8M Deal
November 23, 2015 8:03 AM ESTComtech Telecom (NASDAQ: CMTL) and TeleCommunication Systems, Inc. (NASDAQ: TSYS) 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
