This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Verigy, LTX-Credence to Merge

CUPERTINO, California ( TheStreet) -- Verigy (VRGY) , a semiconductor testing company, agreed to buy rival LTX-Credence (LTXC).

Under the terms of the agreement, Verigy and LTX-Credence will become subsidiaries of Holdco, a newly created subsidiary, or LTX-Credence would become a unit of Verigy.

LTX-Credence shareholders will receive a fixed exchange ratio of 0.96 a share of Verigy stock.

The deal is valued at roughly between $420 million to $440 million.

"By joining forces, we expect the combined scale to strengthen our global presence" for semiconductor test systems, Verigy said in a statement Thursday.

Verigy shares closed Wednesday at $8.91; LTX-Credence shares finished at $5.98.

The companies expect the merger to close in the first half of 2011.

-- Written by Joseph Woelfel



>To contact the writer of this article, click here: Joseph Woelfel

>To submit a news tip, send an email to: tips@thestreet.com.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG
LTXC $8.06 0.25%
AAPL $125.89 -2.20%
FB $77.37 -1.80%
GOOG $531.67 -1.70%
TSLA $230.42 -0.04%

Markets

DOW 17,922.29 -148.11 -0.82%
S&P 500 2,093.95 -20.54 -0.97%
NASDAQ 4,945.1170 -71.8120 -1.43%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs