Aviat Networks Revises Offer to Acquire Ceragon Networks to $3.08…

Aviat Networks Revises Offer to Acquire Ceragon Networks to $3.08…

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Increased consideration would include $2.80 per share in cash and $0.28 when considering the Aviat share at equity, which entails a premium of 47% to the closing price of the Ceragon shares June 27, 2022

The combination of cash and equity provides a balance of immediate and long-term value, allowing Aviat and Ceragon shareholders to benefit from the significant value creation potential of the combined company

New website ValueForCeragon.com provides information on what is at stake and the roster of highly qualified independent directors who will ensure Ceragon pursues opportunities to create value

Austin, Texas, August 2, 2022 /PRNewswire/ — Aviat Networks, Inc. AVNW (“Aviat”), the leading expert in wireless transport solutions, announced today that it has made a revised non-binding offer (“Revised Proposal”) to acquire all outstanding shares of Ceragon Networks Ltd. CRNT (“Ceragon”) to the Ceragon Management Board. The revised offering offers even more value than Aviat’s June 27, 2022 Proposal and is structured to maximize value and security for Ceragon and its shareholders and to meet Ceragon shareholders’ requests to benefit from the value that the combined company will offer. Aviat also announced the launch of a new website, ValueforCeragon.com, providing information on what’s at stake for Ceragon shareholders.

Under the terms of the revised offer, which was delivered to Ceragon’s Chief Executive Officer today, Ceragon shareholders would receive $2.80 per share in cash and $0.28 in equity consideration of Aviat shares. The combination of cash and equity provides a balance of immediate and long-term value, allowing Aviat and Ceragon shareholders to realize the significant advantages of the combined company. This offer represents a significant premium of 47% over the closing price of Ceragon shares June 27, 2022 from $2.09 (the last closing price before Aviat’s first public offering) and a…



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