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0 0 0 0.00123915737298634 0.0016852540272615 0.00123915737298634 0.00123915737298634 -0.00123915737298634
Stock impact report

Seagate acquires Intevac, which makes equipment for hard disk drives, for $119M [TechCrunch]

Intevac, Inc. (IVAC) 
Last intevac, inc. earnings: 4/27 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: investor.intevac.com/events.cfm
Company Research Source: TechCrunch
Seagate said on Thursday that it'll pay $4 per share in a tender offer for Intevac, which is publicly traded. Seagate will initially purchase a minimum of “at least one share more than 50%” of Intevac's issued and outstanding shares, and then execute a “second step” merger to acquire the company's remaining shares. Intevac's board of directors and largest shareholders unanimously approved the transaction. Seagate expects it to close in late March or early April, subject to customary closing conditions. Santa Clara-based Intevac, founded in 1991 as a spin-off from tech firm Varian Associates, manufactures thin film deposition systems. It IPO'd in 1995, and has expanded its footprint over the years to territories including China, Malaysia, and Singapore. Read more
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