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Coherent Acquires Lambda Physik Stock

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SANTA CLARA, Calif., Jan. 21 -- Coherent Inc. announced today it has acquired more than 95 percent of the outstanding shares of its Lambda Physik AG subsidiary. As a result, a squeeze-out resolution will be added to the agenda for Lambda Physik’s upcoming shareholders meeting, no later than May 31. The resolution, which can pass by Coherent solely voting its shares in favor, will permit Coherent to acquire all remaining shares in accordance with the German Stock Corporation Act.

Coherent plans on converting Lambda Physik from a stock corporation to a limited liability company, which will result in the Lambda Physik shares being de-listed from the Frankfurt Stock Exchange.

John Ambroseo, Coherent’s president and CEO, said, "We are pleased to acquire the ownership position necessary to implement the squeeze-out resolution. The acquisition of 100 percent of the outstanding shares and the ensuing conversion of Lambda Physik to an LLC will enable Coherent to fully integrate Lambda Physik, which will drive synergies across virtually all disciplines."

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Jan 2004
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