AML Receives Second Acquisition Offer

An announced merger with a New York microassemblies company fell apart for AML Communications when another firm made a better offer. Microsemi Corp made a binding offer to purchase all AML shares at 2.50, a higher amount than that to be paid by Anaren Inc., which offered $2.15 per share. Anaren has until April 11 to make a counter-offer to acquire the Camarillo-based manufacturer of subassemblies and microwave amplifiers for the defense and aerospace markets. Anaren, based in upstate New York, and with facilities in Colorado, New Hampshire, and China, supplies to manufacturers of wireless infrastructure, wireless consumer products, and satellites in addition to defense contract work Microsemi makes semiconductors and high-performance analog and mixed signal products. Only Anaren can break the merger agreement with AML, and if it does not then the AML board is ready to tell shareholders to vote down the merger. If Anaren does break the agreement, it will receive an $800,000 fee from AML. Mark R. Madler