ceragon networks ltd on monday said its board unanimously rejected an increased takeover proposal worth about 259 million from aviat networks inc aviat an austin texas provider of wireless transport solutions had previously boosted its proposal to 308 a share from its original offer of 280 a share that represents a 47 premium to ceragons closing price of 209 on june 27 before aviat made its interest known ceragon an israelbased provider of 5g wireless transport said aviats increased offer continued to undervalue the company and wasnt in the best interest of shareholders shares of ceragon closed friday at 267 and are up about 35 this year but down almost 37 in the past 52 weeks