Global 5G wireless communications equipment provider Ceragon Networks Ltd. defends itself against hostile bid to take control of its board
Categories: Corporate and M&A
Ceragon Networks Ltd. (NASDAQ: CRNT), a global 5G wireless communications equipment provider, has successfully defended against a hostile bid and a proxy fight in an attempt to take control of the Ceragon Board.
Ceragon’s shareholders demonstrated their support in Ceragon’s Board of Directors by overwhelmingly dismissing an attempt made by Aviat Networks Inc., Ceragon’s U.S. competitor, to oust three of Ceragon’s board members and replace them with five Aviat director nominees, thus taking control of the Ceragon board to facilitate their low-ball purchase offer.
Ceragon shareholders have voiced a clear message that Aviat’s offer to purchase Ceragon significantly undervalues Ceragon and is not in their best interest.
Shibolet advised Ceragon in various aspects that surrounded this hostile attack, including in the development and implementation of the legal strategy of this sensitive matter.
