LTX-Credence Terminates Merger Agreement with Verigy
MILPITAS, Calif.--(BUSINESS WIRE)--
LTX-Credence Corporation (NASDAQ: LTXC) today announced that on March
25, 2011, it notified Verigy Ltd. of the termination of the merger
agreement between the companies, effective immediately, due to the
occurrence of a Triggering Event (as defined in the merger agreement)
with respect to Verigy. On March 25, 2011, Verigy paid LTX-Credence the
$15,000,000 termination fee payable under the merger agreement.
LTX-Credence is a global provider of ATE solutions designed to deliver
value through innovation enabling customers to implement best-in-class
test strategies to maximize their profitability. LTX-Credence addresses
the broad, divergent test requirements of the wireless, computing,
automotive and entertainment market segments, offering a comprehensive
portfolio of technologies, the largest installed base in the
Asia-Pacific region, and a global network of strategically deployed
applications and support resources. Additional information can be found
LTX-Credence and LTXC are trademarks of LTX-Credence Corporation.
other trademarks are the property of their respective owners.
Rich Yerganian, 781-467-5063
Verbinnen & Co
Paul Kranhold or Ron Low
Source: LTX-Credence Corporation
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