Aviat Networks acquired 5% of the shares Sargon And seeks to take over the whole of society. Stock Sargon Rose in response in late Wall Street trading by 23.4%.
Sargon, managed by Doron Arazi, provides solutions in the wireless transmission market. Aviat Networks, also operating in the field of communications equipment, is located in the text and is traded on the Nasdaq at a value of $ 283 million – slightly higher than the value of Sargon before the increase in late trading was $ 176 million.
Aviat, noting that it estimates Sargon is undervalued, bought Sargon shares at $ 1.57-2.22 and is now offering to buy the company at $ 2.8 per share. This is compared to a price of $ 2.09 at the close last night and about $ 2.6 after the late trade.
Earlier, Aviat demanded that a shareholders’ meeting be convened and that the composition of the board of directors be changed: remove the previous CEO of Sargon Ira FeltiDavid Ripstein (who this week was appointed to manage Stickspay) and Yael Langer, and to appoint 5 representatives on her behalf.