Gamco increases stake in Radyne to 8.22%

By Lisa Kerner

Charlotte, N.C., July 1 - Radyne Corp. investors led by Gamco Asset Management Inc. increased their ownership of the company to 8.22%, from 5.6% on May 29, with the purchase of 491,975 shares of the company's stock.

The shares were bought between May 30 and June 30 priced from $10.90 to $11.45 each, it was reported in a schedule 13D filing with the Securities and Exchange Commission.

Gamco and its affiliates beneficially own 1,545,924 shares of the Phoenix-based communications products company.

It was previously announced that Comtech Telecommunications Corp.'s subsidiary, Comtech TA Corp., extended the expiration date of its $11.50-per-share tender offer for Radyne to midnight ET on July 15.

In May, Radyne agreed to be acquired by Comtech in an all-cash transaction valued at $223.6 million.

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