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GTSI ® Corp.
GTSI today announced it has entered into a definitive agreement to be acquired through a cash tender offer at $7.75 per share by an affiliate of UNICOM® Systems, Inc. in a transaction with an expected total value of approximately $76.67 million. Under the terms of the agreement, which was unanimously approved by a special committee of independent GTSI directors and GTSI's full Board of Directors, the tender offer is not subject to any financing contingencies.
The per share purchase price of the tender offer represents a premium of approximately 47.9% over GTSI's closing stock price as of May 5, 2012 and approximately 65.6% over its one-year average closing stock price.
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