| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers L > Headlines for LTX Corp. > News item |
Credence Systems, LTX given early termination of Hart-Scott-Rodino wait
New York, July 25 - Credence Systems Corp. and LTX Corp. were granted early termination of the Hart-Scott-Rodino waiting period for their proposed merger by the Federal Trade Commission.
LTX and Credence announced on June 23 they had agreed a transaction under which LTX will acquire Credence in a tax-free, all-stock merger of equals.
Credence shareholders will receive shares of LTX common stock based on an exchange ratio determined at the closing of the merger that will result in Credence shareholders owning 50.02% of the outstanding shares of the combined company and LTX shareholders owning the remaining 49.98%.
Closing is expected by the end of September.
The companies both provide automated test equipment for the consumer semiconductor industry.
Credence is based in Milpitas, Calif., and LTX is located in Norwood, Mass.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.