Speculating in Takeover Targets Message Board

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Strategies & Market Trends : Speculating in Takeover Targets

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Oct 31 9:30 AM EST

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To: richardred who wrote (2265)	3/9/2010 11:19:28 AM
From: richardred	of 7239

UPDATE 1-II-VI withdraws offer to buy Zygo 9:42am EST * II-VI cites Zygo's reluctance to enter into talks * Zygo shares fall 17 percent March 9 (Reuters) - II-VI Inc <IIVI.O>, which makes optical and electronic instruments, said it was withdrawing its offer to buy Zygo Corp <ZIGO.O> after the company rejected its proposal and refused to enter into talks. Zygo shares fell 17 percent to $8.37 in early morning trade Tuesday on Nasdaq. II-VI shares rose 1 percent to $31.16. In January, II-VI made an offer to buy Zygo, which makes optical metrology instruments, for $10 a share. But Zygo rejected the bid saying it was not for sale. II-VI will focus on its existing businesses and other strategic opportunities, CEO Francis Kramer said in a statement. (Reporting by A.Ananthalakshmi in Bangalore; Editing by Ratul Ray Chaudhuri) reuters.com

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