LTX, Credence Systems set meeting date for merger vote

By Lisa Kerner

Charlotte, N.C., Aug. 26 - LTX Corp. will vote on the company's merger with Credence Systems Corp. at a special meeting of stockholders on Thursday at noon ET in Boston.

Credence shareholders will also vote on the merger at a separate special meeting on Thursday at noon ET in Milpitas, Calif., according to a form 8-K filed with the Securities and Exchange Commission.

LTX and Credence announced on June 23 they had agreed to 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%, it was previously reported.

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.

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