Monday, October 21, 2013

Marlin Equity Partners Buys Tellabs For $891M

Los Angeles-based private equity investor Marlin Equity Partners is acquiring Tellabs, a provider of mobile backhaul, optical networking, and other products for the telecommunications networking market, in a deal worth $891 million. According to Marlin Equity, it will pay $2.45 per share in cash for Tellabs, which is currently listed on the NASDAQ as TLAB. Marlin Equity said the price is a premium of 4.3 percent over Tellabs share price on Fiday, and 28.9% over the company's 52-week low closing share price. Tellabs was based in Chicago.