On September 30, Mobix Labs, Inc. a provider of advanced wireless and connectivity solutions for the military and defense sector, announced it has submitted a non-binding proposal to the board of directors of EMCORE Corporation, the world’s largest independent provider of inertial navigation solutions to the aerospace and defense industry, to acquire all of EMCORE’s outstanding shares for $3.80 per share in cash.
Mobix Labs’ all cash proposed offer to the EMCORE Board represents a more than 200% premium over EMCORE’s current stock price as of September 27, 2024. EMCORE is a leading supplier of inertial sensors and systems for land, sea, air, and space applications in the aerospace and defense market.
“We believe this proposal presents an exceptional opportunity for EMCORE shareholders to realize immediate and significant value for their investment,” said Fabian Battaglia, CEO of Mobix Labs. “Our recent strategic acquisitions, including EMI Solutions and RaGE Systems, have significantly strengthened our position in the military, defense, and high-reliability electronics sector,” Battaglia added. “We believe integrating EMCORE’s products would further accelerate our growth and innovation in critical markets.”
Source: Mobix
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