Advantest: Takeover Bid For Verigy Making Major Progress
March 21 2011 - 8:22PM
Dow Jones News
Advantest Corp. (6857.TO) said Tuesday it sees major progress in
its bid to buy Verigy Ltd. (VRGY) after the U.S. microchip testing
equipment maker's board decided to back the takeover offer.
Advantest, which has been in pursuit of Verigy, said in a
statement it is confident about getting approval from authorities
for the acquisition proposal.
Verigy has said Advantest's merger offer is "superior" and it
plans to change its recommendation to shareholders about its
in-place deal to buy LTX-Credence (LTXC), a move it previously
sought to boost the scale of its operations.
-By Kazuhiro Shimamura, Dow Jones Newswires; 813-6269-2790;
kazuhiro.shimamura@dowjones.com
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