SmarTrend(R) News Watch: Photon Dynamics to Merge with Orbotech

Mon. September 08, 2008; Posted: 08:07 AM

Sep 08, 2008 (SmarTrend(R) News Watch via COMTEX) -- PHTNE | Quote | Chart | News | PowerRating -- Late Friday, Photon Dynamics, Inc. (NASDAQ: PHTN | Quote | Chart | News | PowerRating) reported overwhelming support from stockholders for Orbotech Ltd.'s proposed stock-for-case merger of the Company. Orbotech, a provider of solutions for electronic manufacturing, first proposed the acquisition of Photon Dynamics for $290 million, or $15.60 per share in June. Some conditions must still be resolved before the acquisition is complete. Shares of Photon Dynamics fell 4 cents to close at $15.25 on the afternoon of September 5, 2008.

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