Aeroflex Accepts Veritas Offer

Aeroflex Inc. (Nasdaq: ARXX) has accepted a $14.50 per share buyout offer from Veritas Capital, thus ending a prior $13.50 per share agreement with General Atlantic and Francisco Partners. Aeroflex will be required to pay a $15 million breakup fee, plus up to $7.5 million in Francisco and GA's out-of-pocket expenses. Aeroflex is a Plainview, N.Y.-based provider of high technology solutions to the aerospace, defense, cellular and broadband communications markets. The Veritas offer values Aeroflex at approximately $1.1 billion.