Wireless Telecom Shares Jump 30% On Acquisition By Maury Microwave
Portfolio Pulse from Lekha Gupta
Wireless Telecom Group Inc (WTT) has agreed to be acquired by Maury Microwave, Inc. for an estimated price of $2.13 per share, a 34% premium to WTT's closing price as of May 24. The transaction is expected to close in Q3 2023. Post acquisition, CEO Tim Whelan will step aside and the company will be managed by its remaining leadership team.
May 25, 2023 | 4:40 pm
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Wireless Telecom Group (WTT) shares jumped 30% after agreeing to be acquired by Maury Microwave for $2.13 per share, a 34% premium to its closing price as of May 24.
The acquisition news has a direct impact on WTT's stock price, as it is being acquired at a 34% premium to its closing price as of May 24. This premium represents a significant increase in value for shareholders, which is why the stock price has jumped 30%. The deal is expected to close in Q3 2023, and the company will be managed by its remaining leadership team after the acquisition, which may provide stability and continuity for the company.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100