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Kratos Closes In On Acquisition of Herley

DDN

Friday, March 18th, 2011

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Kratos Defense & Security Solutions [KTOS] this week said the waiting period required under the Hart-Scott-Rodino Antitrust Act with respect to its pending acquisition of Herley Industries [HRLY] has expired, edging the deal closer to fruition. The transaction is expected to close on March 24 pending completion of a tender offer by Kratos for Herley's stock. Kratos is paying $19 per share, or about $270 million, to acquire Herley (Defense Daily, Feb. 8). Kratos' core expertise is in systems engineering…

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