General Scanning and Lumonics Complete Merger
Shareholders of General Scanning Inc. in Watertown, Mass., and Lumonics Inc. in Kanata, Ontario, Canada, have approved resolutions to merge the two industrial laser-based systems manufacturers. The vote came only weeks after the Federal Trade Commission and the US Department of Justice granted early termination of the waiting period under the Hart-Scott-Rodino Act, after certain conditions of the transaction agreement were satisfied.
The new company, GSI Lumonics, will provide laser-based systems for the semiconductor, electronics, medical, automotive and aerospace industries (see Photonics Spectra, December 1998, p. 55). Under terms of the merger, shareholders of General Scanning will receive 1.347 shares for each share held, while Lumonics shareholders will retain their existing shares.
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