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Excelitas Technologies Corp. - X-Cite Vitae LB 11/24

Silicon Valley Group Purchases Optics Manufacturer

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Jennifer L. Morey

SAN JOSE, Calif. -- Silicon Valley Group Inc., a supplier of automatic wafer processing equipment to the semiconductor industry, agreed last month to acquire precision optics manufacturer Tinsley Laboratories Inc. in a stock pooling transaction valued at $42 million. Under the terms of the agreement, Silicon Valley will exchange a 0.6594 share of its common stock for each outstanding share of Tinsley common stock. The day after the agreement was announced, Tinsley's stock skyrocketed 88 percent to close at $20.25 per share. The acquisition is expected to close in the fourth quarter of this...Read full article

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    Published: October 1997
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