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Anaren Agrees to Purchase by Veritas Capital at $28/Share in Cash

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Anaren Agrees to be Acquired by Veritas Capital in a Cash Transaction for $28 per Share

Anaren, Inc. (Nasdaq: ANEN) announced today the signing of a definitive merger agreement under which Anaren will be acquired by an affiliate of The Veritas Capital Fund IV, L.P. (Veritas Capital) for $28.00 per share in cash. The purchase price reflects a premium of approximately 12.4 percent over the closing price of Anaren common stock of $24.91 on November 1, 2013, the last day of trading prior to this announcement, a 42.8 percent premium over the closing price of Anaren common stock of $19.61 on April 15, 2013, which was the last close of trading before Vintage Capital Management, LLC (Vintage Capital) made an offer of $23.00 per share following the close of trading on April 15, 2013, and a 21.7 percent premium over the $23.00 per share offer from Vintage Capital. The transaction is valued at approximately $381 million. The Independent Committee of Anaren's Board of Directors unanimously recommended and the Board unanimously approved the merger agreement.  

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