You Heard It Here First: Verigy Gets Higher Offer (VRGY, ATE, LTXC)
Verigy Ltd. (NASDAQ: VRGY) is one of those companies that few traders and investors follow in the world of semiconductor testing systems and solutions. It is in the midst of a buyout and our prediction is apparently coming true of…
The prior deal was listed as $12.00. Where this gets interesting is that Verigy said that its board of directors IS NOT MAKING A DECISION on the revised Advantest proposal at this time, and it anticipates continuing to engage in discussions with Advantest.
It further noted, “There can be no assurances that any transaction will result from the revised Advantest proposal or Verigy’s discussions with Advantest.”
As of now, Verigy continues to recommend and support the LTX-Credence merger agreement to its shareholders. It is also not withdrawing its recommendation to Verigy shareholders.
Verigy shares are now up 8% at $13.65 in very active trading. LTX-Credence shares are down another 5.4% at $7.37 and Advantest shares are up 0.5% at $22.49.
If Advantest really truly wants Verigy, maybe it should consider taking on LTX-Credence as well.
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JON C. OGG
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.