Telecom components maker Anaren Inc said it would be bought by a fund run by private equity investor Veritas Capital for about $381 million in cash.
The price of $28 per share is a premium of 12.4 percent over Anaren's close of $24.91 on Friday. The company's shares were at $27.78 in early trading on Monday.
Anaren, which makes microwave components for wireless, space and defense electronics providers, counts Raytheon Co, Lockheed Martin Corp and Northrop Grumman Corp as its largest customers.
Veritas Capital, whose founder Robert McKeon committed suicide last year, specializes in investing in mid-market companies supported largely by a government-related customer base.
The Veritas Fund IV offer for Syracuse, New York-based Anaren trumped a $23 per share bid in April from Vintage Capital Group, which Anaren had rejected.
Following the Vintage offer, Anaren shareholder Discovery Group had asked the company to pursue a sale and seek alternative buyers for a sale price of $26 to $30 per share.
(Reporting by Sruthi Ramakrishnan in Bangalore, editing by Ted Kerr, Maju Samuel)