Business
Ceragon Confirms Receipt of Revised Non-binding Indication of Interest from Aviat Networks
Shareholders are Not Required to Take any Action at this Time ROSH HA'AIN, Israel, Aug. 3, 2022 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT)
About this update from Ceragon Networks Ltd.
[{"type":"text","content":"Shareholders are Not Required to Take any Action at this Time\nROSH HA'AIN, Israel, Aug. 3, 2022 /PRNewswire/ -- Ceragon Networks Ltd. (NASDAQ: CRNT) (\"Ceragon\" or the \"Company\"), the global innovator and leading solutions provider of 5G wireless transport, today confirmed that it has received a revised non-binding indication of interest from Aviat Networks, Inc. (\"Aviat\") to acquire all of the outstanding shares of Ceragon for $3.08 per share, consisting of $2.80 in cash and $0.28 in equity consideration of Aviat common stock (the \"Revised IOI\"), subject to certain conditions.\nThe Ceragon Board of Directors, consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, will carefully review and evaluate the Revised IOI to determine the course of action it believes is in the best interest of the Company and its shareholders.\nEvercore is serving as financial advisor and Shibolet & Co. and Latham & Watkins LLP are serving as legal advisors to Ceragon.\nAbout Ceragon Networks \nCeragon Networks Ltd. (NASDAQ: CRNT) is the global innovator and leading solutions provider of 5G wireless transport. We help operators and other service providers worldwide increase operational efficiency and enhance end customers' quality of experience with innovative wireless backhaul and fronthaul solutions. Our customers include service providers, public safety organizations, government agencies and utility companies, which use our solutions to deliver 5G & 4G broadband wireless connectivity, mission-critical multimedia services, stabilized communications, and other applications at high reliability and speed.\nCeragon's unique multicore technology and disaggregated approach to wireless transport provides highly reliable, fast to deploy, high-capacity wireless transport for 5G and 4G networks with minimal use of spectrum, power, real estate, and labor resources. It enables increased productivity, as well as simple and quick network modernization, positioning Ceragon as a leading solutions provider for the 5G era. We deliver a complete portfolio of turnkey end-to-end AI-based managed and professional services that ensure efficient network rollout and optimization to achieve the highest value for our customers. Our solutions are deployed by more than 400 service providers, as well as more than 800 pri...