GGNS death now official. Contrary to Elder's previous PR, AIXG begins trading on NASDAQ at the open tomorrow (Mar 11, 2005). GGNS ceases to exist as of today.
+++++++++++++++++++=
Genus Shareholders Approve Acquisition by Merger With AIXTRON
prnews
SUNNYVALE, Calif., March 10 /PRNewswire-FirstCall/ -- Genus Inc., a
leading provider of thin film deposition equipment for the semiconductor and
data storage industries, announced today that the merger with AIXTRON AG, a
leading provider of equipment for compound semiconductor epitaxy, has been
completed pursuant to the laws of the State of California. The shareholders of
Genus, at a special meeting held on March 10, 2005, approved the merger with a
majority of approximately 61 percent of the Genus outstanding shares entitled
to vote at the meeting. Of the shareholders who voted, 94 percent were in
favor of the transaction.
The American Depositary Shares (ADS) to be issued in the merger to former
Genus shareholders will commence trading on NASDAQ on March 11, 2005. Genus
shareholders will receive 0.51 AIXTRON ADS in exchange for each Genus share.
The AIXTRON ordinary shares underlying the ADS are also expected to be
admitted for trading next week at the Frankfurt Stock Exchange following the
registration of a share capital increase of AIXTRON which was approved during
AIXTRON's extraordinary shareholders meeting held on September 30, 2004.
Commenting on the merger, Paul Hyland, CEO of AIXTRON AG, said, "We are
delighted that the Genus shareholders voted in favor of the transaction. By
combining the two companies we are creating one of the world's premier
suppliers of advanced deposition technologies for the semiconductor industry.
This transaction enables us to leverage the two companies' complementary
strengths and gain the critical mass required to successfully compete in both
the compound semiconductor and semiconductor equipment industries."
"We would like to thank all of our shareholders for their support on this
very important strategic move," commented Bill Elder, chairman and CEO of
Genus. "In the combined companies' position portfolio, AIXTRON's leading MOCVD
equipment for the production of LEDs, high frequency chips and lasers, and in
particular their ALD technology, will nicely complement Genus' leading-edge
ALD technology, which is required in the production of advanced semiconductors
and hard disc drives."
Forward-Looking Statements
[snip] |
