Anaren Makes $8.75/share Offer to Buy Rest of Celeritek

According to a Dow
Jones news report
today, Anaren Microwave Inc. of Syracuse, New York USA,
has offered the compound semi industry device foundry, Celeritek Inc., of Santa
Clara, California USA $8.75 a share to acquire the rest of Celeritek’s outstanding
common shares. Anaren already owns approximately 6.35% of Celeritek, which supplies
Anaren with compound semi devices. The offer came to light via an amended Schedule
13D filed Friday with the US Securities and Exchange Commission. According to
the report, “the offer is contingent upon successful completion of Anaren’s
due diligence review of Celeritek, which may result in an adjustment in Anaren’s
offer price, and the negotiation and execution of a definitive acquisition agreement,
the filing said. Anaren said it believes it can reasonably accomplish its due
diligence within a two- to three-week time period, and that it is willing to
sign a customary confidentiality agreement over the due diligence. Anaren said
its proposed offer has an Oct. 1 deadline.” In news direct from Celeritek
this week, the company continues to make its mark on the industry with two news
items. One announces that Advanced Interconnect Technologies Inc. (AIT) has
qualified Celeritek’s InGaP HBT IC power amplifier modules (PAMs) in AIT’s laminate-based
system-in-package (SIP) plastic land grid array (PLGA) (Company news
release
) and the other came direct from Celeritek announcing the opening
of a new Celeritek sales and technical support office located in Seoul, Korea
where the company has experienced recent success in securing production orders
from key Korean handset OEM’s. Company news
release