Tellabs to be taken private for $891M
Naperville-based Tellabs Inc. agreed to be bought by Marlin Equity Partners for $891 million.
Entities affiliated with Marlin offered $2.45 a share, representing a 4.3 percent premium to Tellabs' Friday closing.
The deal is expected to close in the fourth quarter of 2013, networks provider Tellabs said.
Earlier this year, Tellabs said it would lay off 300 workers, or about 12 percent of its workforce, as it discontinues a line of routers amid struggles to turn a profit.
The company also reduced its workforce by more than 500 last year, including 100 positions in the fourth quarter.
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