10 Jun 12. Micronetics, Inc. (NASDAQ: NOIZ) has signed a definitive merger agreement with Mercury Computer Systems, Inc. (NASDAQ: MRCY) and a new Mercury subsidiary under which Mercury will acquire Micronetics for $14.80 per common share in cash. The transaction is valued at approximately $75.4m, which includes the assumption of Micronetics net debt. This price represents a premium of approximately 97.6% to Micronetics closing price of $7.49 on June 8, 2012. The transaction is subject to customary closing conditions, including approval pursuant to the Hart-Scott-Rodino Antitrust Improvements Act of 1976, if necessary, and the approval of Micronetics shareholders. The Boards of Directors of both Micronetics and Mercury have unanimously approved the transaction and the Micronetics Board of Directors has recommended that Micronetics shareholders vote in favor of the transaction. The transaction is currently expected to close within Micronetics’ fiscal 2013 second quarter ending September 30, 2012. Shareholders of Micronetics holding shares representing approximately 20.0% of the shares outstanding have entered into agreements with Mercury under which they have agreed to vote their shares in favor of the proposed merger.
13 Jun 12. Princeton Security Technologies, Inc. (PSGY), a developer and manufacturer of detector products, including x-ray and gamma-ray detectors, spectroscopy systems, and radioisotope identifier products, has entered into a definitive merger agreement with Thermo Fisher Scientific Inc., under which Thermo Fisher will acquire all the outstanding shares of Princeton for $0.89 per share in cash, in a transaction valued at approximately $13m. Under the terms of the merger agreement, a wholly owned subsidiary of Thermo Fisher will merge into Princeton, with Princeton as the surviving corporation, and each outstanding share of common stock of Princeton (other than dissenting shares) will be converted into the right to receive $0.89 per share, in cash. This price represents a premium of 78% over the closing share price of Princeton’s common stock on June 12, 2012. The Board of Directors of Princeton has unanimously approved the merger. In addition, holders of Princeton common stock constituting approximately 71.2% of Princeton’s outstanding shares have executed and delivered to Princeton written consents adopting the merger agreement, as a result of which the required stockholder approval of the merger has been obtained and no further action by Princeton stockholders is required in connection with the transaction. The closing of the merger is subject to the satisfaction or waiver of customary closing conditions, including the absence of any legal restraint, injunction or other action that would prohibit the merger, and the absence of any event that constitutes a material adverse effect (as defined in the merger agreement) on Princeton. The closing is also subject to the condition that the time period for the holders of Princeton common stock to exercise dissenters’ rights under
Nevada law shall have expired and no more than 10% of the issued and outstanding shares of Princeton common stock shall be dissenting shares. The transaction is expected to close during July 2012.
12 Jun 12. National Technical Systems, Inc. (NTSC) (NTS), a leading provider of testing and engineering services, has acquired all the outstanding shares of stock of privately-held Garwood Laboratories Inc. Based in Southern California, Garwood is a full-service product certification lab for the commercial, defense, space, medical, aviation and transportation industries. Garwood will be operated as a wholly-owned subsidiary of NTS. It currently has two Southern California locations: one located in Pico Rivera in Los Angeles County, and the other in San Clemente in south Orange County within close proximity to San Diego County. (Source: Yahoo!/PRNewswire)
13 Jun 12. Jupiter Systems announced its twentieth consecutive year of profitabili