May 20 British defence and aerospace supplier Cobham PLC agreed to buy Aeroflex Holding Corp for about $900 million to boost its presence in communications, the Wall Street Journal reported late on Monday, citing people familiar with the matter.
Cobham has agreed to pay $10.50 per share in cash, representing a 26 percent premium to Aeroflex's last close on the New York Stock Exchange, the daily said. (r.reuters.com/but49v)
Plainview, New York-based Aeroflex is a provider of components and systems used in the design, development and maintenance of wireless communication systems.
Neither Cobham nor Aeroflex were immediately available for comment outside regular business hours. (Reporting by Arnab Sen in Bangalore; Editing by Gopakumar Warrier)