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Photomask Suppliers Photronics, Align-Rite to Merge

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JUPITER, Fla., Sept. 17 -- Photronics Inc. and Align-Rite International Inc. have signed a definitive agreement to merge the two companies in a stock transaction that will create the world's largest merchant photomask supplier. The merger is valued at approximately $115 million and will accrete to earnings. Under the terms of the agreement, which was unanimously approved by both companies' boards of directors, shareholders of Align-Rite will receive the equivalent of $23.09 per share in Photronics common stock. The number of shares to be exchanged -- subject to certain limitations --...Read full article

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    Published: September 1999
    News & Features

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