Acacia Research Corporation cancelled the acquisition of Comtech Telecommunications Corp. from Outerbridge Capital Management, LLC, Magnetar Capital, LLC, White Hat Strategic Partners LP managed by White Hat Capital Partners LP and others.
Acacia Research Corporation (NasdaqGS:ACTG) cancelled the acquisition of Comtech Telecommunications Corp. (NasdaqGS:CMTL) from Outerbridge Capital Management, LLC, Magnetar Capital, LLC, White Hat Strategic Partners LP managed by White Hat Capital Partners LP and others on January 25, 2022. Comtech Telecommunications Corp.'s Board of Directors has unanimously rejected the unsolicited proposal and determined that the proposal grossly undervalues the Company and is not in the best interests of Comtech's shareholders.