Comtech Considering Sale or Merger Opportunities
[Via Satellite 08-26-2014] Comtech Telecommunications Corporation has confirmed rumors that it is considering a possible merger or sale in order to increase shareholder value. The company reports that there is no definitive timetable for completing this evaluation, nor will it disclose any further information except if required by law.
Comtech has seen declining revenue in 12 of the last 15 quarters. The company will continue with Proskauer Rose LLP as its legal advisor regarding these evaluations, and intends to keep Citi as its financial advisor.
“The Company regularly considers a broad range of strategic alternatives with the goal of maximizing shareholder value. There can be no assurance that any transaction or other strategic change will occur as a result of the current exploration of alternatives,” Comtech said in a statement.