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 a higher price.  We said “Verigy Could Fetch More” back on December 6 and this morning shares are higher after it announced the receipt of a revised unsolicited proposal from ATE for $15.00 per share in cash.  This is going to pit the Advantest Corporation (NYSE: ATE) acquisition against another proposal already on the table with LTX-Credence (NASDAQ: LTXC).

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.

You can join our free daily email distribution list to hear more about dividend trends, analyst upgrades and downgrades, top day trader and active trader alerts, news on Buffett and other investment gurus, IPOs, secondary offerings, private equity, and more.


Sponsored: Tips for Investing

A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you’re an investor looking to minimize expenses, consider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.