Trade Resources Industry Views II-VI Inc Completes Tender Offer For Shares Of Anadigics

II-VI Inc Completes Tender Offer For Shares Of Anadigics

Tags: Anadigics, II-VI, Inc

Broadband wireless and wireline communications component maker Anadigics Inc of Warren, NJ, USA has announced the completion of the tender offer for all outstanding shares of its common stock (for $0.85 per share in cash) by the acquisition subsidiary Regulus Acquisition Sub Inc of II-VI Inc of Saxonburg, PA, USA.

The offer and withdrawal rights expired at 11:59pm (New York City time) on 11 March. Computershare Trust Company, N.A., the depositary for the tender offer, has indicated preliminarily that about 47,782,407 shares were validly tendered and not validly withdrawn (not including about 4,218,728 shares delivered through notices of guaranteed delivery), representing about 52.92% of Anadigics' outstanding common stock.

A merger of Regulus into Anadigics (without a vote or meeting of Anadigics shareholders) was due to be completed (following payment for the tendered shares) on or about 14 March. Each outstanding share of Anadigics common stock not tendered and purchased in the offer will be converted into the right to receive the same $0.85-per-share price (without interest and less any applicable withholding taxes) that was paid in the tender offer. 

As a result of the merger, Anadigics becomes a subsidiary of II-VI, with its common stock being delisted and ceasing trading on Nasdaq.

 

Source: http://www.semiconductor-today.com/news_items/2016/mar/iivi_150316.shtml
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