Rudolph Tech Breathes Easier

The merger agreement between Rudolph Technologies (RTEC Quote) and August Technology(AUGT Quote) remains under water, but Rudolph CEO Paul McLaughlin wants investors to know the deal has climbed closer to the surface.

August and Rudolph agreed in June to merge in a cash and stock deal worth $10.50 an August share at the time. That followed an $11 million payoff by August to Nanometrics(NANO Quote) to scuttle their existing merger deal.

Rudolph shares, which traded at $13.77 when the merger with August was announced, have become more valuable since then, climbing back above $15 on Thursday. "This is not the original $10.50 offer," said McLaughlin. "It depends on where [our] stock is." ...