Herley Industries, Inc. (Nasdaq: HRLY), a leader in the design, development and manufacture of microwave technology solutions for the defense, aerospace and medical industries worldwide, announced that the Company has been acquired by Kratos Defense & Security Solutions, Inc. (Nasdaq: KTOS) for $19.00 per share in cash. The transaction was accomplished through an all-cash tender offer and second-step merger, with a total value of approximately $270 million, on February 25th, 2011.
John Thonet, former Chairman of Herley Industries made the following remarks regarding the work of Barley Snyder, “I greatly appreciated Barley Snyder’s professional attitude, responsiveness and high quality guidance on SEC matters during my tenure as Chairman of Herley Industries, Inc. - Barley Snyder was a truly valued member of the Herley team during what was, without question, one of the most extraordinary and successful periods in Herley’s 45-year history.” Barley Snyder, LLC served as Herley’s securities counsel and worked on Herley’s transaction team in connection with the transaction.
About Herley Industries, Inc. Herley Industries, Inc. (Nasdaq: HRLY) is a leader in the design, development and manufacture of microwave technology solutions for the defense, aerospace and medical industries worldwide. Based in Lancaster, PA, Herley has seven manufacturing locations and approximately 1000 employees. Additional information about the company can be found on the Internet at www.Herley.com