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ACACIA RESEARCH CORPORATION

(ACTG)
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Acacia Research Reportedly Seeks to Buy Comtech Telecommunications

11/01/2021 | 09:21am EST

Acacia Research Corporation (NasdaqGS:ACTG) has made an offer to acquire Comtech Telecommunications Corp. (NasdaqGS:CMTL) for $790 million in cash, people familiar with the offer said. The bid comes as Comtech faces pressure from one of its shareholders, Outerbridge Capital Management LLC, to explore a sale of the entire company. Comtech angered Outerbridge last month when it announced a deal to sell a $100 million stake in itself through a PIPE deal to hedge funds Magnetar Capital LLC and White Hat Capital Partners LP. Acacia, which is backed by activist hedge fund Starboard Value, has offered $30 per share in cash for Comtech, the sources said, a 39% premium to Comtech's closing share price on Friday. There is no certainty that Comtech will engage in negotiations or that any deal will be reached, the sources added, requesting anonymity because the matter is confidential. Comtech did not immediately respond to a request for comment.


ę S&P Capital IQ 2021
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Financials (USD)
Sales 2021 29,8 M - -
Net income 2021 -44,6 M - -
Net Debt 2021 - - -
P/E ratio 2021 -2,41x
Yield 2021 -
Capitalization 215 M 215 M -
Capi. / Sales 2021 7,21x
Capi. / Sales 2022 6,14x
Nbr of Employees 20
Free-Float 87,6%
Chart ACACIA RESEARCH CORPORATION
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Acacia Research Corporation Technical Analysis Chart | ACTG | US0038813079 | MarketScreener
Technical analysis trends ACACIA RESEARCH CORPORATION
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 1
Last Close Price 4,33 $
Average target price 8,00 $
Spread / Average Target 84,8%
EPS Revisions
Managers and Directors
Clifford Press President, Chief Executive Officer & Director
Richard J. Rosenstein Chief Financial Officer
Maureen E. O'Connell Chairman
Wesley Lawrence Golby Research Director
Katharine Wolanyk Independent Director
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