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Notable Mergers and Acquisitions of the Day 05/10: CPII/CMTL, BTU, PMCS/ADPT

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    Last Updated: May 11th, 2010
    • CPI International, Inc. (Nasdaq: CPII) signed a definitive merger agreement to be acquired by Comtech Telecommunications Corp. (Nasdaq: CMTL) in a cash and stock transaction with an enterprise value of approximately $472.3 million.

      The ultimate amount of consideration that a CPI shareholder will receive will be equal to a combination of $9.00 in cash plus a fraction of Comtech common stock equal to $8.10 divided by the average closing price of Comtech common stock over a specified period of time prior to closing, provided that the fraction shall not be greater than 0.2382 nor less than 0.2132. Based on the

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