Tellabs Agrees to $891 Million Acquisition by Marlin Equity
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Tellabs Inc. agreed to be acquired by Marlin Equity Partners in a deal valued at about $891 million, letting the unprofitable phone-equipment maker regroup as a private company.
The board approved the transaction after more than 30 potential buyers were contacted, Naperville, Illinois-based Tellabs said today in a statement. The offer of $2.45 a share is 4.3 percent higher than Tellabs’s closing price on Oct. 18, the most recent trading day.