08:36 AM EDT, 09/30/2024 (MT Newswires) -- Mobix Labs ( MOBX ) said Monday it has submitted a non-binding cash offer to acquire Emcore ( EMKR ) shares for $3.80 per share.

The company said the acquisition represents a more than 200% premium over Emcore's ( EMKR ) Sept. 27 stock closing price.

Mobix Labs' ( MOBX ) board of directors has already approved the offer, which is subject to the approval of Emcore's ( EMKR ) board and shareholders.

Price: 0.9025, Change: -0.14, Percent Change: -13.22