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Aurora buying Nat'l Technical Systems for $266.8M

CALABASAS, Calif. (AP) -- Aurora Capital Group is buying the testing and engineering services provider National Technical Systems Inc. for approximately $266.8 million.

NTS stockholders will receive $23 per share, a 39 percent premium to the company's Thursday closing price of $16.58.

Shares of NTS soared $3.62, or 21.8 percent, to $20.02 in Friday premarket trading.

The Calabasas, Calif. company currently has approximately 11.6 million outstanding shares, according to FactSet.

NTS is expected to continue to operate as normal, with its core management and staff remaining in place.

The deal is expected to close before year's end. It still needs the approval of NTS shareholders, who are expected to vote on the transaction at a special stockholders meeting to be held no later than Oct. 31.