Rofin-Sinar stockholders approve acquisition by Coherent
Rofin-Sinar Technologies' stockholders voted to adopt the merger agreement in which Coherent will acquire Rofin.
Rofin-Sinar Technologies (NASDAQ: RSTI; Plymouth, MI/Hamburg, Germany), a developer and manufacturer of high-performance laser beam sources, laser-based solutions, and components, has announced that Rofin stockholders voted at the special meeting held June 29, 2016, to adopt the previously announced merger agreement providing for the acquisition of Rofin by Coherent (Santa Clara, CA). Holders of more than 95% of the shares of the company's common stock present and voting at the meeting voted in favor of the transaction, representing more than 74% of the outstanding shares of the company's common stock.
As announced on March 16, 2016, the two companies entered into a merger agreement pursuant to which Coherent will acquire Rofin for $32.50 per share in cash. Rofin's stockholder approval was a condition to the closing of the merger. The completion of the transaction remains subject to the satisfaction of other necessary closing conditions, including the receipt of necessary regulatory approvals and the timely completion of Coherent's financing for the merger. Rofin continues to anticipate that the transaction will be completed in the last calendar quarter of 2016.