Shares of Tellabs Were Halted, Announced Will Be Purchased by Marlin Equity Partners for $2.45/Share in Cash

Tellabs (NASDAQ: TLAB) todayannounced that it has entered into a definitive merger agreement with entitiesaffiliated with Marlin Equity Partners ("Marlin"), which provides that Marlinentities will acquire all of the outstanding shares of Tellabs for $2.45 pershare in cash. The price per share represents a premium of 4.3% over the closing share priceon October 18, 2013, and 13.3% over the 180-day volume-weighted averageclosing share price as of the same day. In addition, the offer represents apremium of 28.9% over the current 52-week-low closing share price, whichoccurred on April 17, 2013. The transaction value represents a total equityvalue of approximately $891 million on a fully diluted basis.Under the terms of the merger agreement, an affiliate of Marlin is required tocommence a tender offer to acquire all outstanding shares of Tellabs'outstanding common stock for $2.45 per share in cash no later than November 1,2013. The merger agreement provides that, promptly after the closing of thetender offer, any shares not tendered in the tender offer (other than sharesfor which appraisal is properly sought under applicable law) will be acquiredin a second-step merger at the same cash price as paid in the tender offer.