Advantest Tops LTX-Credence With $1.1B Verigy Bid

Law360, New York (March 28, 2011, 12:16 PM EDT) -- Tokyo-based Advantest Corp. will buy California semiconductor testing company Verigy Ltd. for $1.1 billion in cash, the companies announced Monday, a day after LTX-Credence Corp. said that its all-stock merger with Verigy had been called off.

Verigy said March 21 that its board had determined the Japanese suitor's $15 per-share offer was superior to the LTX-Credence offer, made public in November, that would have created a combined company under which Verigy shareholders would have had 56 percent control.

LTX-Credence said Sunday it had received a $15...
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