Newport To Pay $230M For Laser Maker Ophir

Law360, New York (July 8, 2011, 1:26 PM EDT) -- Irvine, Calif.-based Newport Corp. said Friday that it would pay $230 million in cash for Israeli laser technology manufacturer Ophir Optronics Ltd.

Newport will pay $8.43 per share in a transaction that is expected to close by the end of the fourth quarter of 2011, pending regulatory and Ophir shareholder approval. The transaction will be immediately accretive to Newport earnings after closing, the company said.

A maker of photonics instrumentation and other photonics technologies, Newport will now be able to enter the market for high-growth applications...
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