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 and systems support, program management and other professional services, as well as systems integration for commercial security systems. Herley makes microwave-based components and subsystems are used in manned and unmanned aircraft, tactical and ballistic missiles, sensor-based platforms, electronic warfare systems, electronic attack systems and command and control.