CPI International (CPII) agrees to be bought by an affiliate of private equity firm Veritas...

|About: CPI International, Inc. (CPII)|By:, SA News Editor

CPI International (CPII) agrees to be bought by an affiliate of private equity firm Veritas Capital for $19.50/share in cash, a 35% premium over Wednesday's closing price. The transaction is valued at ~$525M. CPI provides microwave, radio frequency and power and control solutions to the defense and communications sectors. CPII +32.7% premarket. (PR)