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Spectra-Physics Announces Cash Tender Offer by Thermo Electron

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Spectra-Physics, Inc. announced today that its majority stockholder, Thermo Electron Corporation, has announced plans to take Spectra-Physics private at a cash price of $20.00 per share. Thermo Electron stated in a news release issued yesterday that it expects to initiate a cash tender offer by the end of September 2001, for any and all outstanding shares of Spectra-Physics common stock held by minority stockholders. As of July 31, 2001, Thermo Electron owned approximately 80% of Spectra-Physics common stock. Thermo Electron announced that the goal of the tender offer is to increase its...Read full article

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