(RTTNews) - EMCORE Corporation (EMKR), a provider of inertial navigation solutions to the aerospace and defense industry, Tuesday said it received an acquisition proposal from Mobix Labs, Inc. for $3.80 per share in cash.
"Consistent with its fiduciary duties and in consultation with the company's financial and legal advisors, the company's Board of Directors will carefully review Mobix's proposal to determine the course of action that it believes is in the best interest of the Company and its shareholders," EMCORE said in a statement.
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