Electro Scientific, Zygo merger clears waiting period hurdle

By Lisa Kerner

Charlotte, N.C., Dec. 2 - The Federal Trade Commission granted early termination of the Hart-Scott-Rodino waiting period in the proposed acquisition of Zygo Corp. by Electro Scientific Industries, Inc., according to a government release.

In October, Electro Scientific agreed to acquire Zygo in an all-stock transaction.

Zygo shareholders will receive 1.0233 shares of Electro Scientific stock for each share of Zygo stock in a tax-free transaction valued at about $10.30 per share, it was previously reported.

Portland, Ore.-based Electro Scientific supplies photonic and laser systems to microelectronics customers.

Zygo supplies optical metrology instruments, precision optics and electro-optical design and manufacturing services. The company is located in Middlefield, Conn.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.