Key Developments: Anaren Inc (ANEN.OQ)
23.61USD
1 Aug 2013
$0.20 (+0.85%)
$23.41
$23.59
$23.65
$23.45
9,666
11,149
$24.75
$17.64
Latest Key Developments (Source: Significant Developments)
Law Firm Kirby McInerney LLP Announces Investigation Of Anaren Inc
Kirby McInerney LLP announced that it is investigating potential claims against the Board of Directors of Anaren Inc (Anaren or the Company) related to the proposed acquisition of the Company by Vintage Capital Group (VCG). Under the terms of the proposal, VCG would acquire all of the outstanding common stock of Anaren for $23.00 per share in cash, for a total transaction value of approximately $300 million. The investigation concerns whether the Anaren Board of Directors would violate its fiduciary duties by agreeing to this transaction and whether the proposed $23.00 per share consideration would adequately value Anaren common shares. Full Article
Anaren Inc Issues Q4 2013 Guidance; EPS Guidance Below Analysts' Estimates
Anaren Inc announced that for the fourth quarter of 2013 it expect net sales to be in the range of $37 to $41 million. The Company expect GAAP net earnings to be in the range of $0.22-$0.28 per diluted share for the fourth quarter. Non-GAAP net earnings, which are inclusive of approximately $0.05 -$0.06 per diluted share related to expected equity based compensation expense and amortization of intangibles assets, are expected to be in the range of $0.28 -$0.34 per diluted share (EPS) for the fourth quarter of 2013. Both GAAP and Non GAAP projections exclude any one time fees and expenses associated with the unsolicited offer by Vintage Capital Management, LLC to acquire the Company. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $40 million and EPS of $0.35 for the fourth quarter of 2013. Full Article
Kahn Swick & Foti, LLC Investigates Anaren Inc
Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (KSF) announced that KSF has commenced an investigation into the Board of Directors of Anaren, Inc. in connection with a proposal to acquire the Company by Vintage Capital Management, LLC. Under the terms of the proposed transaction, shareholders of Anaren would receive $23 in cash for each share of Anaren common stock that they own. KSF's investigation is focusing on whether Anaren and/or officers and Directors secured sufficient value for the shareholders of Anaren and/or violated state or federal securities laws. Full Article
Harwood Feffer LLP Announces Investigation Of Anaren Inc
Harwood Feffer LLP is investigating potential claims against the Board of Directors of Anaren, Inc. concerning the potential sale of the Company to Vintage Capital Management, LLC (Vintage) in a transaction that would be valued at over $250 million. The investigation concerns whether the Anaren board of directors is fulfilling fiduciary duties, maximizing the value of the Company, disclosing all material benefits and costs, and obtaining full and fair consideration for Company shareholders. Full Article
Law Firm Brower Piven Announces Investigation Of Anaren Inc Proposed Buyout
The securities litigation firm of Brower Piven, A Professional Corporation, announced that it has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Anaren Inc and other violations of state law by the board of directors of Anaren relating to the proposed buyout of the Company by Vintage Capital Management, LLC. The firm`s investigation seeks to determine, among other things, whether Anaren`s board of directors breached their fiduciary duties by failing to maximize shareholder value. Full Article
Zeldes & Haeggquist, LLP Announces Investigation Of Potential Sale Of Anaren Inc
Zeldes & Haeggquist, LLP announced that it has commenced an investigation into possible legal claims against the Board of Directors of Anaren, Inc. (Anaren or the Company). The investigation concerns possible breaches of fiduciary duties and other violations of law related to the Board`s receipt of an acquisition proposal from Vintage Capital Management, LLC (Vintage). Zeldes & Haeggquist`s investigation concerns whether Anaren`s Board of Directors is adequately shopping the Company to obtain the best possible value for its shareholders before entering into an agreement with Vintage. Under the terms of the proposal, shareholders of Anaren will receive $23 per share in cash Full Article
Rigrodsky & Long, P.A. Announces Investigation Of Anaren Inc's Proposed Buyout
Rigrodsky & Long, P.A. announced that it is investigating potential legal claims against the Board of Directors of Anaren, Inc. regarding possible breaches of fiduciary duties and other violations of law related to the Company's receipt of a proposal to be acquired by Vintage Capital Management, LLC (Vintage Capital). Under the terms of the proposal, public shareholders of Anaren will receive $23.00 per share in cash for each share of Anaren they own. The investigation concerns the Company's Board of Directors' process for consideration of the proposed transaction, whether Anaren is acting in shareholders' interests and whether the proposed consideration to be paid to Anaren's shareholders would be fair and adequate. According to Yahoo! Finance, at least one analyst has set a price target for Anaren stock at $26.00. Full Article
Briscoe Law Firm and Powers Taylor, LLP Investigate Anaren Inc
Former United States Securities and Exchange Commission attorney Willie Briscoe and the securities litigation firm of Powers Taylor, LLP announced that they are investigating potential claims against the Board of Directors of Anaren Inc (Anaren) related to the board`s receipt of an acquisition proposal from Vintage Capital Management, LLC for shareholders. Under the terms of the proposed transaction, Anaren shareholders will receive $23.00 in cash for each share of ANEN stock owned. The Anaren investigation centers on whether Anaren`s Board of Directors is acting in the shareholders` best interests, whether the board is properly considering the proposed price for the shareholders, and whether the board has employed an adequate process to review and act on the proposed transaction. Full Article
Law Office of Brodsky & Smith, LLC Announces Investigation Of Anaren Inc
Law office of Brodsky & Smith, LLC announced that it is investigating potential claims against the Board of Directors of Anaren, Inc. (Anaren or the Company) relating to the reported acquisition proposal from Vintage Capital Management LLC. (Vintage). Under the terms of the proposal, Anaren shareholders would receive only $23.00 in cash for each share of Anaren stock they own. The investigation concerns possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Anaren for not acting in the Company's shareholders' best interests in connection with the sale process. Vintage and its affiliates are the largest shareholders of Anaren, with beneficial ownership of approximately 13% of the outstanding common stock. In addition, an analyst has set a price target for Anaren stock at $26.00 per share. Full Article
Anaren Inc Issues Q3 2013 Guidance; EPS Guidance Above Analysts' Estimates
Anaren Inc announced that for the third quarter of 2013, it expects net sales to be in the range of $37 to $41 million, GAAP net earnings, inclusive of a tax benefit of approximately $0.09 per share related to of the impact of the reinstatement of the Federal Research and Experimentation credit retroactive to January 1, 2012, to be in the range of $0.29 - $0.37 per diluted share and Non-GAAP net earnings, which are inclusive of approximately $0.05 -$0.06 per diluted share related to expected equity based compensation expense and amortization of intangibles assets, are expected to be in the range of $0.34 - $0.42 per diluted share. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report revenue of $39 million and EPS of $0.27 for the third quarter of 2013. Full Article
Vintage Capital offers to buy Anaren
April 15 - Investment firm Vintage Capital Group LLC offered to buy Anaren Inc for $23 per share in a deal that values the telecommunication components maker at about $300 million.

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