Cubic Announces Receipt of Unsolicited Acquisition Proposal from ST Engineering

SAN DIEGO--(BUSINESS WIRE)--Cubic Corporation (NYSE: CUB) (“Cubic” or the “Company”) today confirmed that it recently received an unsolicited proposal from Singapore Technologies Engineering (SGX: S63; Bloomberg-STE: SP) (“ST Engineering”) to acquire all of Cubic’s outstanding stock for $76 per share in cash (the “STE Proposal”). The STE Proposal contemplates that, immediately following the acquisition of all of Cubic’s outstanding stock, STE would sell Cubic’s CMPS business to an affiliate of Blackstone Tactical Opportunities.