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Kratos To Acquire Herley Industries For $270 Million

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Kratos Defense & Security Solutions [KTOS] yesterday said it has agreed to acquire Herley Industries [HRLY] for $19 per share, or about $270 million in cash, giving it design and production capabilities in microwave-based components and technologies used in various military systems. The deal is expected to close in the first quarter of 2011 pending regulatory approval and the tendering of a majority of Herley's common stock. Kratos expects the deal to be accretive to its earnings, excluding transaction and…

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