Micronetics (NOIZ) announced that it has signed a definitive merger agreement with Mercury Computer Systems (MRCY) and a new Mercury subsidiary under which Mercury will acquire Micronetics for $14.80 per common share in cash. The transaction is valued at approximately $75.4 million, which includes the assumption of Micronetics net debt. This price represents a premium of approximately 97.6% to Micronetics closing price of $7.49 on June 8. The transaction is currently expected to close within Micronetics’ fiscal 2013 second quarter ending September 30. Shareholders of Micronetics holding shares representing approximately 20.0% of the shares outstanding have entered into agreements with Mercury under which they have agreed to vote their shares in favor of the proposed merger.
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