The Sumitomo Chemical Company is to acquire Cambridge Display Technology, the UK-based developer of polymer organic light emitting diodes (P-OLEDs).
Under the merger agreement, Sumitomo Chemical will acquire all outstanding shares of CDT common stock at a price of $12 per share in cash, for an aggregate purchase price of approximately $285m.
Completion of the merger is subject to CDT stockholder approval and other customary closing conditions.
The acquisition is expected to close during the third or fourth quarter of 2007.
Comment: The UK is closer to deindustrialisation than reindustrialisation
"..have been years in the making" and are embedded in the actors - thus making it difficult for UK industry to move on and develop and apply...