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Business/Financial

Herley Believes Sale Not Currently Viable

DDN

Monday, April 13th, 2009

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Herley Industries [HRLY] on Thursday said it continues to explore its strategic alternatives but presently doesn't believe a sale of the company is viable due to "uncertain economic conditions." The company's announcement followed a Reuters report on Wednesday that said the company had rejected a proposed offer from a potential buyer during a recent auction. Herley, which is a microwave component developer and supplier serving the aerospace and defense industry, said last September it had hired an investment banker to…

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