- Nine days after stating it has received buyout proposals it believes will lead to an offer superior to the company's $0.35/share deal to sell to GaAs Labs, Anadigics (NASDAQ:ANAD) announces it has received a $0.48/share offer (all-cash) from an unnamed third party.
- Not surprisingly, the offer has been deemed superior, and Anadigics' board intends to terminate the GaAs Labs deal (as it's free to do so, per deal terms) once a 5-day waiting period expires on Dec. 22.
- Shares have risen to $0.47 premarket.