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What: Shares of Tekelec
So what: The all-cash deal values Tekelec at $11 per share and represents an 11% premium to its Friday closing price of $9.90. Tekelec shares have been on fire recently -- up 80% since the beginning of October -- fueled by record-size orders, suggesting that Siris wanted to pounce on the operating momentum before the price got more expensive.
Now what: Tekelec's board approved the acquisition and the deal is expected to close in the first quarter of 2012, pending shareholder and regulatory approval. The current management team will stay in place. While Tekelec's shares are likely all popped out, close rival Agilent Technologies
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