Vintage Capital Group LLC, the investment firm has offered to purchase Anaren Inc for the price of US$23 per share. The offer values the telecommunications component manufacturer at US$300 million.
This offer further provides a premium of 17% above closing share prices last Monday, pegged at US$19.61 at Nasdaq. Because of the offer, Anaren shares jumped slightly by 10% in extended trading. The share price is now at US$21.56 per share and has been increasing in value by as much as 16% in the past twelve months.
Currently, Vintage Capital already holds 12.8% of Anaren, which is based out of Syracuse, New York. The offer was made through a letter submitted to the board of directors of Anaren.
The possible sale may have been precipitated by Discovery Equity Partners, who had urged the board of directors of Anaren to solicit offers from 'certain parties.' Discovery currently holds 5.9% shareholdings in Anaren.
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