Wasserstein & Co. Completes Acquisition of Globecomm Systems Inc.
Hauppaugge, NY, December 11, 2013--Globecomm Systems Inc. a leading communications solutions provider, announced today that an investor group led by Wasserstein & Co. has successfully completed the previously announced acquisition of Globecomm. As a result of the merger, each share of Globecomm common stock (other than shares held by Globecomm as treasury stock and shares as to which holders properly exercised dissenters’ rights) was converted into the right to receive $14.15 in cash, without interest, and Globecomm’s common shares will no longer be publicly traded.
As previously announced, the merger was approved by Globecomm’s stockholders at a special meeting of the stockholders held on November 22, 2013. Wassertstein reportedly paid an estimated US$ 340 million for Globecomm.
Needham & Company served as exclusive financial advisor and Kramer Levin Naftalis & Frankel LLP served as legal counsel to Globecomm. Jones Day served as legal advisor to Wasserstein & Co. U.S. Space LLC advised Wasserstein & Co. with respect to industry matters.
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