Close

Search

Search Menu
Photonics Media Photonics Buyers' Guide Photonics EDU Photonics Spectra BioPhotonics EuroPhotonics Industrial Photonics Photonics Showcase Photonics ProdSpec Photonics Handbook
More News
SPECIAL ANNOUNCEMENT
2016 Photonics Buyers' Guide Clearance! – Use Coupon Code FC16 to save 60%!
share
Email Facebook Twitter Google+ LinkedIn Comments

Laser Power's Board Backs II-VI's Offer

Photonics.com
Jun 2000
PITTSBURGH, June 16 -- Laser Power Corp.'s board of directors have said that II-VI Inc.'s offer is better than Union Miniere's offer. Laser Power has given Union Miniere two business days to make a counter-offer or face termination of the previous merger agreement between the two companies.
II-VI has offered to purchase all of Laser Power's outstanding stock, each share receiving .052 shares of II-VI common stock as well as $2.32 in cash. This equals $4.76 per share based on the market price of II-VI common stock ended June 14, 2000. II-VI's guaranteed floor price of $4.10 per share will be paid with a combination of cash and/or II-VI common stock if the volume weighted average trading price of II-VI common stock is less than $34.23 per share for the 12 trading days prior to the closing of the exchange offer.
Because of the recent announcement by Laser Power's board, II-VI has extended its offer until 11:59 P.M. tonight.


Comments
Terms & Conditions Privacy Policy About Us Contact Us
back to top

Facebook Twitter Instagram LinkedIn YouTube RSS
©2016 Photonics Media
x We deliver – right to your inbox. Subscribe FREE to our newsletters.