Micronetics (NOIZ $14.57 +7.08) announced it has signed a definitive merger agreement with Mercury Computer Systems (MRCY 11.84 +0.16) and a new Mercury subsidiary under which Mercury will acquire Micronetics for $14.80 per common share in cash.
The transaction is valued at approximately $75.4 million, which includes the assumption of Micronetics net debt. This price represents a premium of approximately 97.6% to Micronetics closing price of $7.49 on June 8, 2012. The acquisition will be funded with available cash and is expected to be immediately accretive to EBITDA. Subject to finalization of purchase accounting, the transaction is also anticipated to be accretive on a GAAP basis within 12 months of the closing date.






