Comtech Telecommunications ($CMTL) and TeleCommuni

Comtech Telecommunications ($CMTL) and TeleCommunication Systems ($TSYS) announced the signing of a definitive merger agreement under which Comtech will make a first step cash tender offer at $5.00 per TCS share. Once the first step cash tender is completed, it will be followed by a merger at the same price. All TCS debt of approximately $143.6 million is anticipated to be repaid upon the closing of the transaction.