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Test & Measurement | May 29, 2007

Aeroflex to be acquired by Veritas Capital

Aeroflex will be acquired by Veritas Capital for $14.50 per share in cash.
Aeroflex management choose Veritas Capital as new owners as its bid was superior to the other bids that had came in. The company was supposed to hold a special stockholders meeting tomorrow to decide whether or not the current owners should accept the bid from affiliates of General Atlantic and Francisco Partners but that meeting is now cancelled.

Veritas Capital, Golden Gate Capital, and Goldman Sachs are providing financing for the transaction that will be closed after it has been approved by the current owners.

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