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EMCORE Corporation (NASDAQ:EMKR) shares are trading higher Monday after Mobix Labs, Inc. (NASDAQ:MOBX) submitted an all-cash offer to acquire the company for $3.80 per share.
The Details:
The offer from Mobix Labs represents a premium of more than 200% to Emcore stock’s closing price of $1.21 per share on Friday.
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“We believe this proposal presents an exceptional opportunity for EMCORE shareholders to realize immediate and significant value for their investment,” said Fabian Battaglia, CEO of Mobix Labs.
“Our recent strategic acquisitions, including EMI Solutions and RaGE Systems, have significantly strengthened our position in the military, defense, and high-reliability electronics sector,” Battaglia added. “We believe integrating EMCORE’s products would further accelerate our growth and innovation in critical markets.”
Both companies operate in the military and defense sector. Emcore is a supplier of inertial sensors and systems for land, sea, air, and space applications, and Mobix Labs provides advanced wireless and connectivity solutions for the military applications.
Emcore shares are moving on heavy trading volume following the announcement from Mobix. According to data from Benzinga Pro, more than 9.4 million shares changed hands before Monday's opening bell.
Besides going to a brokerage platform to purchase a share – or fractional share – of stock, you can also gain access to shares either by buying an exchange traded fund (ETF) that holds the stock itself, or by allocating yourself to a strategy in your 401(k) that would seek to acquire shares in a mutual fund or other instrument.
For example, in Emcore's case, it is in the Information Technology sector. An ETF will likely hold shares in many liquid and large companies that help track that sector, allowing an investor to gain exposure to the trends within that segment.
EMKR Price Action: According to Benzinga Pro, Emcore shares are up 57.9% at $1.01 at the time of publication Monday.
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