Skip to main content

PALO ALTO, California (

TheStreet

) --

CPI International

(CPII)

agreed to be acquired by an affiliate of Veritas Capital for $19.50 a share in cash, or $525 million.

The purchase price is a premium of about 35% over CPI's closing price Wednesday of $14.47, and 38% over the average closing price of CPI for the 90 days to Wednesday.

Scroll to Continue

TheStreet Recommends

CPI International provides technology to the defense, communications, medical and scientific markets.

Shareholders that own about 49% of CPI shares have entered into a voting agreement with Veritas Capital.

-- Written by Joseph Woelfel

>To contact the writer of this article, click here:

Joseph Woelfel

>To submit a news tip, send an email to:

tips@thestreet.com

.