Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers O > Headlines for Orbotech Ltd. > News item |
CFIUS approval still needed in merger of Photon Dynamics, Orbotech
By Lisa Kerner
Charlotte, N.C., Sept. 10 - Photon Dynamics, Inc. said its proposed merger with Orbotech Ltd. remains subject to clearance by the Committee on Foreign Investment in the United States.
The waiting period for CFIUS expires on Sept. 29, a Photon Dynamics news release said.
Photon Dynamics shareholders approved the merger on Sept. 5.
In June Orbotech signed a definitive agreement to acquire Photon Dynamics for $15.60 per share in cash, or a total of approximately $290 million. The acquisition is expected to grow Orbotech's flat-panel display business, it was previously reported.
Photon Dynamics, based in San Jose, Calif., provides yield management solutions to the flat-panel display industry.
Orbotech develops yield-enhancing and production solutions for specialized applications in the supply chain of the electronics industry. The company is located in Yavne, Israel.
© 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.