Powerwave to Acquire Filtronic’s Wireless Unit
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From Bloomberg News
Powerwave Technologies Inc. said it agreed to buy most of London-based Filtronic’s wireless infrastructure business for $335.9 million in cash and stock, adding transmitter and amplifier technology.
Santa Ana-based Powerwave will issue 20.7 million shares of common stock and pay $150 million to Filtronic.
The transaction is expected to close in the third quarter and start adding to Powerwave’s earnings the following quarter, the companies said.
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