AlliedSignal Attempts Hostile Takeover of Amp
Amp Inc., a manufacturer of fiber optic connectors based in Harrisburg, Pa., has rejected a $9.8 billion takeover attempt by
AlliedSignal Inc. of Morris Township, N.J. Despite the rejection, AlliedSignal's chief executive officer, Larry Bossidy, said his company would continue to pursue the acquisition. AlliedSignal, which manufactures advanced electronics and aviation systems, offered shareholders $44.50 per share, representing a 55 percent premium over the $28 per share Amp was trading for the day before the offer.
The takeover bid comes after several difficult years for the connector giant. Since 1995, Amp has seen several reorganizations, leadership changes and sagging profits. Analysts remain divided, however, on whether AlliedSignal eventually will prove successful in its bid.
LATEST NEWS
- Exail Signs LLNL Contract, Partners with Eelume
Apr 26, 2024
- Menlo Moves U.S. HQ: Week in Brief: 4/26/2024
Apr 26, 2024
- Optofluidics Platform Keys Label-, Amplification-Free Rapid Diagnostic Tool
Apr 25, 2024
- DUV Lasers Made with Nonlinear Crystals Enhance Lithography Performance
Apr 25, 2024
- Teledyne e2v, Airy3D Collaborate on 3D Vision Solutions
Apr 24, 2024
- One-Step Hologram Generation Speeds 3D Display Creation
Apr 24, 2024
- Innovation Award Winners for Laser Technology Honored in Aachen
Apr 23, 2024
- Intech 2024: AI Arrives on the Shop Floor
Apr 22, 2024