Press releases
August 18, 2022
Independent Proxy Advisory Firm Glass Lewis Recommends that Ceragon Shareholders Vote for Change
August 16, 2022
August 11, 2022
August 10, 2022
August 2, 2022
Aviat Networks Revises Proposal to Acquire Ceragon Networks to $3.08 Per Share
July 28, 2022
Aviat Networks Urges Ceragon Networks Shareholders to Vote for Highly-Qualified Director Nominees
July 18, 2022
Aviat Networks Urges Ceragon Networks Shareholders to Push for Board Change
July 12, 2022
Aviat Networks Issues Open Letter to Ceragon Networks Shareholders
July 6, 2022
June 27, 2022
June 27, 2022
Aviat Networks Proposes to Acquire Ceragon Networks for $2.80 Per Share in Cash
In the news
Insightia: Aviat puts spotlight on director slate
Insightia: Ceragon open to higher offer from Aviat
Insightia: Aviat attacks Ceragon board independence
The Deal Activist Weekly: Campaigns to Watch: Ceragon Networks Ltd. (CRNT)
Globes: The architect of a failed strategy: Ceragon’s former CEO is in the crosshairs
Telecompaper World: Aviat prepares for Ceragon shareholders meeting in August on takeover bid
Fierce Wireless: Aviat calls for extraordinary general meeting to buy Ceragon for $235M
Telecompaper: Aviat proposes takeover of Ceragon Networks for USD 2.80 per share
Light Reading: Aviat looks to pass Nokia with $235M play for Ceragon
RCR Wireless: Aviat presses its bid for Ceragon
TelecomLead: Aviat offers to buy Ceragon Networks in cash
Globes: Aviat Networks bids to buy Ceragon Networks
Calcalist: Addressing shareholders: American company tries to take over Israeli Ceragon
What the analysts are saying (1)
George Iwanyc of Oppenheimer & Co.
“Bottom Line: We view Aviat's offer positively for Ceragon and see potential value in combining the two companies.”
Scott W. Searle of Roth Capital Partners
“Potentially hugely accretive: AVNW estimates the combined entity would generate $35M of cost synergies with the first two years, translating to 15%+ EBITDA margins by year 3. The transaction is expected to be accretive in year 1 with no revenue synergies assumed in the model. We estimate that financed with debt and with fully recognized cost synergies the combined entity could conservatively generate EPS 30%+ above current model expectations. Even with equity consideration, we see the deal as meaningfully accretive.”
Alex Henderson and Matt Dezort of Needham & Company
“Much Better Together: Aviat and Ceragon combined would bring together strong technology, represent a larger US market share, and benefit from better scale, and better penetration of Enterprise and Government markets. We have told both management teams a merger makes strategic sense.”
Tim Savageaux of Northland Capital Markets
“We see multiple strategic, with a very complementary mix of private vs carrier and US vs Intl exposures, and financial positives from the proposed deal, reflected only in small part in our increased PT, with revenue and COGS synergies likely beyond the $35M in annual cost savings the company is targeting.”