II-VI to Buy Pacific Rare Specialty
PITTSBURGH, May 17, 2007 -- II-VI Inc., a Saxonburg, Pa.-based maker of crystalline compounds, announced today that one of its subsidiaries will acquire Pacific Rare Specialty Metals & Chemicals Inc., in exchange for cash. Financial terms were not disclosed.
The transaction is expected to close in II-VI's first fiscal quarter, ending Sept. 30. II-VI said it will update its guidance for the fiscal year ending June 30, 2008, when the acquisition is completed, and that it is expected to be immediately accretive....