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Ceragon stock surges on acquisition offer from Aviat

·1 min read
Ceragon stock surges on acquisition offer from Aviat
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Ceragon Networks Ltd. (CRNT) shares surged in the extended session Monday after Aviat Networks Inc. (AVNW) offered to acquire the wireless telecom equipment company and shake up its board. Ceragon shares rallied more than 20% after hours, following a 5.4% decline to close the regular session at $2.09, for a market cap of $176 million. Aviat, which owns more than 5% of shares already, offered $2.80 a share in cash for the shares of Ceragon it does not already own.