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CPI International (Nasdaq: CPII) $14.47. Today announced the signing of a definitive merger agreement under which CPI International (CPI) will be acquired by an affiliate of Veritas Capital Fund IV (Veritas Capital) for $19.50 per share in cash. The purchase price reflects a premium of approximately 35 percent over the closing price of CPI common stock on November 24, 2010, and 38 percent over the average closing price of the CPI common stock for the 90 days ending November 24, 2010. The transaction is valued at approximately $525 million.
What They Do: CPI International, Inc., headquartered in Palo Alto, California, is the parent company of Communications & Power Industries, Inc., a leading provider of microwave, radio frequency, power and control solutions for critical defense, communications, medical, scientific and other applications.
P.A.M. Transportation Services (Nasdaq: PTSI) $11.71. Announced Wednesday after market close that the Board of Directors has authorized the Company to repurchase up to 500,000 shares of the Company's common stock from time to time during the next twelve months. Under the stock repurchase program, shares may be purchased in open market or privately negotiated transactions, subject to market conditions, share price and other considerations.
What They Do: P.A.M. Transportation Services, Inc. is a leading truckload dry van carrier transporting general commodities throughout the continental United States, as well as in the Canadian provinces of Ontario and Quebec.
Abington Bancorp (Nasdaq: ABBC) $11.89. Today announced that its Board of Directors at their meeting on November 23, 2010, declared a quarterly cash dividend of $0.06 per share on the common stock of the Company payable on December 21, 2010 to the shareholders of record at the close of business on December 7, 2010. The dividend represents an increase of 20% from the previous quarter's dividend of $0.05 per share.
What They Do: Abington Bancorp, Inc. is the holding company for Abington Bank. Abington Bank is a Pennsylvania-chartered, FDIC-insured savings bank which was originally organized in 1867.
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