- Globecomm Systems (GCOM -3.5%) has been acquired by P-E firm Wasserstein & Co. for $14.15/share. The transaction is valued at approximately $340M.
- Investors expected a higher price. The stock has fallen off Friday's close of $14.40 and now sits at $13.95.
- Globecomm stock climbed steadily since Jan., when the company hired Needham to review strategic alternatives. The acquisition represents a 21.9% premium to the price of GCOM prior to the Needham announcement.
- The transaction is expected to close in Q4.