CPI Surges; Announces Its Acquisition By Veritas Capital

CPI International, Inc. (NASDAQ:CPII) shares are currently trading at $19.28, a spike of 33.24% from previous closing price of $14.47. The company's shares have 52-week trading range of $16.20 – $9.27. The stock is trading at volume of 208,962 shares. The market capitalization of the company is $324.1 million. Today, the company announced its merger agreement under which CPI International will be acquired by an affiliate of Veritas Capital for $19.50 per share in cash.  The purchase price reflects a premium of approximately 35% over the closing price of CPI common stock on November 24, 2010, and 38% over the average closing price of the CPI common stock for the 90 days ending November 24, 2010.  The transaction is valued at approximately $525 million. CPI International is a provider of microwave, radio frequency, power and control products for critical defense, communications, medical, scientific and other applications. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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