British aerospace and defense contractor Cobham said Tuesday it has agreed to acquire Plainview, N.Y.-based microelectronics and test equipment maker Aeroflex Holding Corp., in a deal valued at $1.46 billion.
Under the the transaction’s terms, Cobham—which makes radio frequency and microwave circuitry and components for satellite and wireless communications, both military and civilian—will pay $10.50 apiece in cash for each outstanding share of common and restricted Aeroflex stock, or $940 million all told.
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