PLAINVIEW, N.Y., 4 March 2007.Aeroflex Inc. has entered into an agreement to be acquired by General Atlantic and Francisco Partners in a transaction valued at approximately $1 billion.
The agreement contains a provision under which Aeroflex may solicit alternative proposals from third parties through April 18, 2007. If the Company accepts a superior proposal, a break-up fee would be payable by the company.
The closing of the transaction is subject to the approval of the Aeroflex stockholders and other customary conditions.
