Aug. 26, 2013, 10:07 AM
- 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.
Jan. 14, 2013, 4:18 PMGlobecomm (GCOM) +5.6% AH after announcing it has hired Needham to "review potential strategic alternatives." The satellite services firm adds it now expects FY13 (ends June 30) revenue of $320M-$340M and EPS of $0.66-$0.71; the former is below a $364M consensus, but the latter is largely above a $0.66 consensus. (PR) | Comment!
May 11, 2011, 1:54 PM
Globecomm Systems Inc., provides end-to-end, value-added satellite-based communications solutions. The Company provides its communication solutions through two business segments; services and infrastructure.
Other News & PR